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Extenway Completes Third Tranche of Private Placement

MONTREAL, QUEBEC -- (Marketwired) -- 02/26/14 -- Extenway Solutions Inc. ("Extenway") (TSX VENTURE: EY) is pleased to announce the closing, as of February 26, 2014 (the "Closing Date"), of a third tranche private placement (the "Third Tranche") of convertible debentures (the "Convertible Debentures") in the aggregate principal amount of $1,710,000. The Third Tranche was completed as part of a larger offering of common shares and Convertible Debentures for combined aggregate gross proceeds of $2,300,000 (the "Offering"), the first and second tranches of which were respectively completed on September 11th and 17th, 2013.

The Convertible Debentures are unsecured, will mature on August 31, 2017, and bear an annual compounded interest rate of 12%. The Convertible Debentures are convertible into common shares of Extenway (the "Common Shares") at a conversion price of $0.13 if the conversion is effected no later than at 5:00 pm on April 29, 2016, or $0.17 if the conversion is effected thereafter, subject to customary adjustment provisions.

The proceeds of the Offering will be used for working capital purposes. The private placement is subject to compliance with applicable securities legislation and to the approval of the TSX Venture Exchange.

Desjardins-Innovatech s.e.c. and the Caisse de depot et placement du Quebec, both insiders of Extenway, participated in the Third Tranche by subscribing for Convertible Debentures in the principal amounts of $1,000,000 and $500,000 respectively, representing 58.48% and 29.24% of the total amount raised under the Third Tranche or 43.48% and 21.74% of the total amount raised under the Offering.

IRR Capital Inc. acted as finder for a portion of the financing and received a commission of $31,300 and 100,000 share purchase warrants of Extenway, with each share purchase warrant being exercisable to acquire one Common Share at an exercise price of $0.13 per Common Share if exercised no later than at 5:00 pm on April 29, 2016 or at a price of $0.17 per Common Share if exercised thereafter. The share purchase warrants will expire on August 31, 2017.

The Convertible Debentures and all underlying Common Shares issued, or which may be issued, to purchasers under the Third Tranche (the "Securities") are subject to a four-month plus one-day hold period from the Closing Date, ending on July 27, 2014, pursuant to securities legislation and the policies of the TSX Venture Exchange. The Securities have not been nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws, and may not be offered or sold in the United States or to an account for the benefit of U.S. persons, absent such registration or an exemption from registration.

About Extenway Solutions Inc.

Extenway is a supplier of client-focused solutions for the healthcare industry. Services offered by Extenway include interactive television, beside terminals for patients, internet, entertainment, content integration, advertising, education and integrated solutions. Extenway allows organizations to optimize management and coordination of human interactions as well as communications, information and coordination. For further information, please visit www.extenway.com or follow us on Twitter @Extenway.

Disclaimer - Safe Harbour Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking statements. These forward-looking statements relate to the future financial conditions, results of operations or business of Extenway. These statements may be current expectations and estimates about the markets in which Extenway operates and management's beliefs and assumptions regarding these markets. These statements are subject to important risks and uncertainties which are difficult to predict and assumptions which may prove to be inaccurate. The results or events predicted in forward-looking statements may differ materially from actual results or events. Extenway disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. In particular, forward-looking statements do not reflect the potential impact of any merger, acquisitions or other business combinations or divestitures that may be announced or completed after such statements are made.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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