Message #29 From:
Jason Date: September 26, 2007 12:57:09 PM
SEC Closes its Investigation of Copernic Inc., Formerly Mamma.com Inc., with a Recommendation of no Enforcement Action
Copernic Inc., (NASDAQ: CNIC), formerly known as Mamma.com Inc., a
leader in internet search technology and online advertising, announced
that the United States Securities and Exchange Commission ("SEC") has
informed the Company by letter that it has completed its investigation
of the Company concerning certain trading in the shares of the Company
in 2004, and that the SEC does not intend to recommend enforcement
action against the Company.
"The Company is pleased with SEC's decision to close the
investigation," said David Goldman, Executive Chairman of the Company.
"The successful conclusion of the SEC investigation will allow the
Company to remain focused on executing its core business strategy in
internet search technology and online advertising, for the benefit of
its shareholders"
Copernic Inc. is a leading provider of award winning search
technology for both the Web and desktop space delivered through its
online properties, including www.mamma.com and www.copernic.com.
Through its award winning Copernic Desktop Search product, the Company
develops cutting edge search solutions bringing the power of a
sophisticated, yet easy-to-use search engine to the user's PC. It
allows for instant searching of files, emails, and email attachments
stored anywhere on a PC hard drive. The desktop search application won
the CNET Editors' Choice Award, as well as the PC World World Class
award in 2005. In 2007, PC Pro, the UK's most respected IT magazine for
professionals, and Micro Hebdo, one of France's most read IT magazines,
each selected Copernic Desktop Search 2.0 as the top desktop search
tool.
Through its well established media placement channels, Copernic Inc.
provides both online advertising as well as pure content to its vast
array of partnerships worldwide. Copernic handles over 1 billion search
requests per month and has media placement partnerships established not
only in North America, but in Europe and Australia as well.
Statements contained in this press release, which are not historical
facts, are forward-looking statements as that term is defined in the
Private Securities Litigation Reform Act of 1995. Such forward-looking
statements are subject to risks and uncertainties that can cause actual
results to differ materially from estimated results. Such risks and
uncertainties are detailed in the Company's filings with the Securities
and Exchange Commission and the Ontario Securities Commission and
include but are not limited to the extent to which the results of the
SEC investigation or the purported securities class action lawsuits
negatively impact the Company. The Company expressly disclaims and
intent or obligation to update any description of the scope, focus or
subject matter of the statement in this press release.
