MCLEAN, Va., March 21, 2002 (PRIMEZONE) -- Sideware Systems Inc. (TSE:SYD.U) (OTCBB:SDWS) is pleased to announce that the shareholders of Sideware and KnowledgeMax have voted overwhelmingly in favor of the Agreement and Plan of Merger and Acquisition.
Per the merger agreement, Sideware's corporate name will be changed to "KnowledgeMax, Inc." after closing, and the company will continue its corporate status from the `Yukon Territories into Delaware.' The merger will close subject to certain remaining terms and conditions being met.
"This is a major step in the transformation that Sideware embarked on back in December 2001," said Sideware's President and CEO James L. Speros. "We are looking forward to the final steps of integrating these companies in the near future and building a world-class learning organization."
KnowledgeMax Inc.'s Chairman and Co-CEO Linwood (Lin) Pearce stated, "We're pleased that the shareholders of both companies voted so overwhelmingly in favor of this merger. On behalf of the KnowledgeMax management team, we look forward to working with the Sideware executives and all their people."
"I've been struck by the progress we've already made in the last few months," said Knowledge's Founder and Co-CEO, Edwin S. Grosvenor. "The company operations are going smoothly and there's a real synergy between the two teams."
The Sideware shareholders also approved resolutions to increase the authorized capital of the Company and to reserve common shares for the Sideware 2002 Equity Incentive Plan for issuance to employees, directors and consultants of Sideware.
About Sideware
Sideware is focused on eLearning through its subsidiary, the Chalk Network. Sideware is based in Vancouver and McLean, VA, and trades on the Toronto Stock Exchange (SYD.U) and the OTC Bulletin Board (SDWS). Sideware has filed an S-4 Registration Statement with the SEC regarding its merger with KnowledgeMax, Inc., which had an Effective Date of February 14, 2002.
About KnowledgeMax, Inc.
KnowledgeMax, Inc. is a leading supply chain management e-Business that helps organizations and individuals select, purchase, and deliver learning and knowledge resources. Its fully customizable, integrated system provides "best-of-breed" content including millions of books, online courses, training videos, audio tapes, and other knowledge and learning products. Its unique system also offers users free online advice on a wide range of critical business issues from leading business experts. Topics covered include leadership, people skills, business strategy, teamwork, learning, and knowledge management. KnowledgeMax is based in McLean, VA.