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The Caisse de dépôt et placement du Québec subscribes for convertible debentures of Extenway Solutions Inc.

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MONTREAL, Dec. 4, 2012 /CNW Telbec/ - The Caisse de dépôt et placement du Québec (the "Caisse") announced that, under the terms of a subscription agreement, it has subscribed for unsecured convertible debentures (the "Debentures") of Extenway Solutions Inc. ("Extenway") [TSX Venture Exchange: EY], with a $1,500,000 principal amount.

The subscription was made through a private placement under the accredited investor exemption provided by applicable securities regulation.

The Debentures mature on August 31, 2017, and bear an annual compounded interest rate of 12%.

The Debentures are convertible at a conversion price of $0.13 per common share of Extenway (the "Common Shares") if the conversion is effected no later than at 5:00 pm on April 29, 2016, or at a conversion price of $0.17 if the conversion is effected after that date.

Before this subscription, the Caisse held 11,492,308 Common Shares.

If the Caisse exercised its conversion right before April 29, 2016, it would thereby acquire ownership of and control over 11,538,450 Common Shares, which would bring its ownership of and control over the Common Shares to 23,030,758, or 15.86% of the outstanding Common Shares.

The Caisse may increase or decrease its investment in Extenway as a function of market conditions or other relevant factors.

This news release is issued in accordance with the early warning requirements stipulated by securities regulation, which require that investors, including the Caisse, issue and file a news release and a report, when they acquire beneficial ownership of securities with voting rights that would represent, with the securities they already hold, 10% or more of the outstanding shares of the class.

In accordance with the Early Warning System, a copy of this news release and the report will be filed with the applicable Canadian Securities Administrators and will be available on SEDAR's website ( and from the person referred to below. 


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