VANCOUVER, British Columbia, Sept. 5, 2003 (PRIMEZONE) -- Stockgroup Information Systems Inc. (OTCBB:SWEB) (TSX Venture Exchange:SWB) (TSX Venture Exchange:SWBs), a financial media and technology company, is pleased to announce it has eliminated substantially all of its debt through the early payment of all outstanding notes. The balance of US$223,994 was eliminated.
Stockgroup has eliminated US$1.8 million in notes since January 1, 2003 to make the company completely debt free excluding normal accounts payable and leases.
"In today's market there is no need for us to carry debt with 17% interest. Eliminating our debt puts our balance sheet in a stronger position to grow our business," said Marcus New, CEO of Stockgroup. "The company's main focus is to increase revenues by signing new long-term contracts and building on our existing recurring revenue base."
ABOUT STOCKGROUP
Stockgroup Information Systems Inc. is a financial media and technology company. It is a leading provider of private labeled financial software and content solutions to media, corporate and financial services companies. Stockgroup employs proprietary technologies which enable its clients to provide financial data streams and news combined with cutting-edge fundamental, technical, productivity and disclosure tools to their customers, shareholders and employees at a fraction of the cost of traditional internal methods. Stockgroup is also a provider of Public Company Disclosure and Awareness Products for publicly traded companies. Its financial web sites, including www.stockhouse.com, www.stockhouse.ca and www.smallcapcenter.com, are state-of-the-art online research centers for the investment community. To find out more about Stockgroup (OTCBB:SWEB) (TSX Venture Exchange:SWB) (TSX Venture Exchange:SWBs), visit our website at www.stockgroup.com
Signed: /s/ Marcus New Marcus New, CEO
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this action may be identified through the use of words such as "expects", "will," "anticipates," "estimates," "believes," or statements indicating certain actions "may," "could," or "might" occur.
This release has neither been approved or disapproved by the TSX