Plaintree Systems Inc. files for Form 20-F Extension

Dépèche transmise le 1 octobre 2009 par Business Wire

OTTAWA, Ontario--(BUSINESS WIRE)--Plaintree Systems Inc. (OTC BB: PTEEF, CNSX: NPT), today announced that it has filed a notification of late filing on Form 12b-25 with the Securities and Exchange Commission with respect to its Form 20-F for the year ended March 31, 2009. As provided in the SEC rules, the effect of this filing will be to extend the filing due date for the Form 20-F from September 30, 2009 to October 15, 2009. A copy of Plaintree’s Form 12b-25, which sets out in greater detail the reasons for the delay, is available on the SEC’s website at www.sec.gov.

About Plaintree Systems

Plaintree has two diversified product lines consisting of Specialty Structures and Electronics.

The Specialty Structures Division formally the Triodetic Group, with over 40 years of experience, is a design/build manufacturer of steel, aluminum and stainless steel specialty structures such as commercial domes, free form structures, barrel vaults, space frames and industrial dome coverings.

The Electronics Division includes legacy the Hypernetics and Plaintree free space optics businesses Hypernetics was established in 1972 and was a manufacturer of avionic components for various applications including aircraft antiskid braking, aircraft instrument indicators, solenoids, high purity valves and permanent magnet alternators.

During fiscal 2009, Plaintree completed the listing of its common shares on the Canada National Stock Exchange (CNSX) (formerly the Canadian Trading and Quotation System Inc. (CNQ)), to again giving the Company’s shareholders a Canadian market on which to trade their shares. Plaintree’s shares are traded under the symbol “NPT”. Shareholders and Investors can access Company information on CNSX’s website and receive full Company disclosure monthly. For more information on Plaintree or to receive stock quotes, complete with trading summaries, bid size and ask price, brokerage house participation, insider reports, news releases, disclosure information, and CNSX and SEDAR filings, visit the CNSX website at www.cnsx.ca or the Company’s website at www.plaintree.com. Plaintree is pleased to again be trading on a Canadian exchange and I would encourage shareholders to use the CNSX for trading purposes.” added David Watson, CEO and President.

Plaintree is publicly traded in Canada on the CNSX (NPT) and in the U.S. on the OTC BB (PTEEF), with 12,925,253 common shares and 18,325 class A preferred shares outstanding.

This press release may include statements that are forward-looking and based on current expectations. The actual results of the company may differ materially from current expectations. The business of the company is subject to many risks and uncertainties, including changes in markets for the company’s products, delays in product development and introduction to manufacturing and intense competition. For a more detailed discussion of the risks and uncertainties related to the company’s business, please refer to documents filed by the company with the U.S. Securities and Exchange Commission and Canadian regulatory authorities, including the Company’s Form 20-f dated September 26, 2008 and the annual report of the Company for the fiscal year ended March 31, 2009 and related management discussion and analysis.

Canadian National Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Business Wire

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