/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
CALGARY, May 28 /CNW/ - PsiNaptic Inc. (TSXV: PST) has filed on SEDAR its
unaudited second quarter interim financial statement, and related MD&A.
Pending approval of the TSX Venture Exchange, PsiNaptic issued 6,638,000
units on May 23, 2008 for gross proceeds of $331,900. This amount includes the
conversion of outstanding convertible notes of $29,564. The funds will be used
for general operating purposes as the Company proceeds to meet its development
targets with Novatium Solutions PL of India.
The reverse takeover announced in August 2007 has yet to close and
continues to be subject to the approval of the TSX Venture Exchange.
About PsiNaptic Inc.
PsiNaptic is a technology company that develops and markets software
based on open standards to address the growing need to connect small,
low-power wired or wireless devices without human intervention, configuration
or set up. PsiNaptic solutions operate on multiple platforms, across various
networks including Bluetooth and WiFi.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy and accuracy of this release.
