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ALPHINAT ANNOUNCES EXPORT FUNDING AS THE GOVERNMENT OF CANADA GRANTS $227,500 IN FUNDING TO ALPHINAT INC FOR COMMERCIALIZATION

^{Published on 2011-02-23 15:22:04 - Market Wire}
 

MONTREAL, Feb. 23 /CNW Telbec/ - Alphinat Inc. ("Alphinat") (TSXV: NPA), a leader in innovative Software for the Smart Enterprise™, announces it has been awarded $227,500 in repayable funding through the Business and Regional Growth program for market development in Europe to market and export SmartGuide®. Alphinat's lead solution SmartGuide® is a server based software application intended for use as an agile rapid application development tool for SaaS and Cloud enablement in all sectors of enterprise and governments.

Alphinat is also pleased to announce it has secured a revolving/working capital operating line with the Royal Bank of Canada (RBC) to help finance international contracts and working capital.

"These funds allow Alphinat to further its international business development as the firm is looking to commercialize its products in promising financial and government markets, most notably in the United States and in Europe." explains Philippe Lecoq, CEO of Alphinat.

About Alphinat

Software for the Smart Enterprise™ providing agility to leverage existing IT assets and lower costs. Alphinat develops, markets and supports software technology that enables non-technical managers to configure and deploy form based Web applications and utilities that helps organizations and governments better serve clients. This technology uses sophisticated data organization and processing software to automate interactions between systems, employees, clients, suppliers and partners. The software is ubiquitous across organizational entities and information processing platforms, permitting a high level of collaboration in delivering complex service outcomes using existing legacy systems.  It provides efficient and cost-effective solutions to clients at both the time of acquisition and on an ongoing basis.

Alphinat technology could also be used in the healthcare, banking, insurance, telecommunications and other sectors, in modernising, automating and rendering cost-effective a number of business processes at a fraction of the cost associated with conventional customized solutions. For more details about Alphinat or its software suite, please visit [ www.alphinat.com ].

Forward-looking statements

Certain statements in this document, including those which express management's expectations or estimations with regard to the Company's future performance, constitute "forward-looking statements" as understood by applicable securities laws. Forward-looking statements are, of necessity, based on a certain number of estimates and hypotheses; while management considers these to be accurate at the time they are expressed, they are inherently subject to significant uncertainties and risks on the commercial, economic and competitive levels. We advise readers that these forward-looking statements are subject to risks, uncertainties, and other known and unknown factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. A number of factors could cause significant differences between actual results and those described in forward-looking statements. Investors are advised to not rely unduly on the forward-looking statements. This advisory applies to all forward-looking statements, whether expressed orally or in writing, attributed to Alphinat or to any individual expressing them in the name of the Company. Unless required by law, the Company is under no obligation to publicly update these forward-looking statements, whether to reflect new information, future events, or other circumstances. Risks and uncertainties that bear on the Company are described in greater detail in the Company's Annual Report.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.