CALGARY, ALBERTA--(Marketwire - Sept. 27, 2012) - Poynt Corporation (TSX VENTURE:PYN) ("Poynt Corp." or the "Company"), a global leader in mobile local search and advertising, today announced that the Court of Queen's Bench of Alberta (the "Court") granted an order extending its creditor protection until Friday, October 12, 2012, and that agreements were made and approved by the Court for debtor-in-possession ("DIP") financings in an aggregate amount of one hundred thousand Canadian dollars (CDN$100,000.00) at an interest rate of 20% (collectively, the "DIP Financings").

The DIP Financings were provided by nine lenders (collectively, the "DIP Lenders"), are each secured against all of the Company's assets and are repayable on demand by the DIP Lenders following an event of default. An aggregate of fifty thousand Canadian dollars (CDN$50,000.00) of the DIP Financings was provided by five DIP Lenders who are directors and/or officers of the Company. In any event, the DIP Financings will be repaid in full at the earliest of: (i) twelve months from September 27, 2012; (ii) the date on which Poynt Corp. successfully completes all requirements of the Company's Notice of Intention to Make a Proposal (the "Proposal Proceedings") under the Bankruptcy and Insolvency Act (Canada)("BIA"); or (iii) the fifth business day following the date on which the stay of proceedings ordered in the Proposal Proceedings is terminated or lifted.

Subject to receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange, the Company has agreed to issue an aggregate of 400,000 common shares to the DIP Lenders as consideration for taking the risk of providing of the DIP Financings. The common shares will be subject to applicable hold periods or restricted periods and resale restrictions imposed under applicable securities laws, including, but not limited to, a hold period of four months and one day following the date of issuance of the common shares.

Hardie & Kelly Inc. of Calgary, Alberta, is the trustee appointed for the Company's Proposal Proceedings under the BIA.

About Poynt Corporation

Poynt Corp. (about.poynt.com) (TSX VENTURE:PYN) is a global leader in the mobile local advertising space. Its Location Based Search (LBS) and advertising platform, Poynt ([ www.poynt.com ]), enhances a user's ability to connect with the people, businesses and events most important to them. Poynt is available on Android, iPhone, Windows Phone and Nokia devices, along with BlackBerry smartphones and BlackBerry PlayBook Tablets in Canada, the United States, Europe, India and Australia. Poynt Corp. entered the mobile publishing space with the acquisition of an advertising publishing platform in January 2011. Whether through the Poynt Local Search Platform or the Ad Publishing Platform, Poynt Corp. simplifies connecting consumers with businesses, retailers and events. Headquartered in Calgary, AB, Canada, Poynt Corp. trades on the TSX Venture Exchange under the symbol "PYN".

Reader Advisory: The press release may contain certain forward looking statements which may include plans, expectations, forecasts, projections, guidance or other statements that are not statements of fact, including, without limitation, meeting the terms, conditions and approval requirements under its creditor protection; the effect of the DIP Financings on Poynt Corp.'s ability to continue operations while under creditor protection; the terms of the DIP Financings; the Company's strategic plans; the Company's ability to obtain additional DIP financing; and the Company's long-term business plan and the expected benefits to be obtained therefrom. Although Poynt Corp. believes that the expectations reflected in such forward looking statements are reasonable, it cannot give any assurance that such expectations will prove to be correct. The effect of the DIP Financings and further DIP financings are subject to a number of conditions and Poynt Corp. cannot give any assurance that such conditions will be met on a timely basis, or at all, as certain of the conditions are in the control of other parties. As such, the future plans and objectives of Poynt Corp. are forward looking statements that involve risks and uncertainties that may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in such statements.

Material risk factors that could cause actual results to differ materially from the forward-looking information include, but are not limited to: risk that the Company will be unable to meet the terms of the DIP Financings; risk that the Company will be unable to obtain additional DIP financing; risk that the Company will be unable to meet the terms, conditions and approval requirements under its creditor protection; inability of Poynt Corp. to fund its obligations; the deteriorating economic and market conditions that could lead to reduced spending on information technology products; competition in the Company's target markets; potential capital needs; management of future growth and expansion; the development, implementation and execution of the Company's strategic visions; risk of third-party claims of infringement; protection of proprietary information; customer acceptance of the Company's existing and newly introduced products; the success of brand development efforts; risks associated with strategic alliances; failure of counterparties to perform on contracts; failure to successfully negotiate contracts; failure to successfully negotiate a strategic opportunity; need to develop new and enhanced products; potential product defects; ability to hire and retain qualified employees and key management personnel; risks associated with changes in domestic and international market conditions and the entry into and development of new markets for the Company's products; failure to obtain all required regulatory approvals, including the approval of the TSX Venture Exchange of the common shares to be issued to the DIP Lenders; and the risks described under "risk factors" in the Company's Annual Information Form for the year ended December 31, 2010 which is available on Poynt Corp.'s SEDAR profile ([ www.sedar.com ]).

Although Poynt Corp. has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. In making the forward looking statements in this press release, Poynt Corp. made, among others, the following assumptions: that Poynt Corp. will be able to formulate a suitable creditor proposal in the timelines required under its creditor protection filing; that Poynt Corp. will be able to complete a DIP financing under the timelines required by the Court; that the Company will be able to hire and retain qualified employees; conditions in general economic and financial markets; ability to complete a strategic transaction; receipt of all necessary regulatory approvals; and the ability to obtain financing on acceptable terms, including Poynt Corp.'s ability to finance its future commitments.

Poynt Corp.'s forward-looking statements are expressly qualified in their entirety by this cautionary statement. Unless otherwise required by applicable securities laws, Poynt Corp. does not intend, nor does it undertake any obligation, to update or review any forward looking statements to reflect subsequent information, events, results or circumstances or otherwise.

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