Software Growth Inc. announces extension of time period for completion of qualifying transaction

TORONTO, July 17 /CNW/ - SOFTWARE GROWTH INC. (TSXV: SGW-P.V) (the "Corporation"), a capital pool company, announced today that it has been granted an extension of the Corporation's deadline to complete a qualifying transaction from July 27, 2009 to August 27, 2009.

The Corporation was unable to complete a qualifying transaction within the prescribed time period pursuant to Policy 2.4 (the "Exchange Policy") of the TSX Venture Exchange Inc. (the "Exchange") and applied to the Exchange for an extension. The Exchange granted an extension to August 27, 2009 in accordance with the Exchange bulletins released November 3, 2008 and March 6, 2009 describing temporary relief measures for current market conditions.

On July 15, 2009, the Corporation announced that it has entered into a subscription agreement with Enssolutions Group Inc. ("Enssolutions"), a company listed on the Exchange under the symbol "ENV", providing for its participation in Enssolutions' proposed private placement (the "Private Placement") which, upon completion, will constitute the Corporation's qualifying transaction pursuant to the policies of the Exchange (the "Qualifying Transaction"). The Private Placement is anticipated to close on July 31, 2009 and in any event, subject to the approval of the Exchange, no later than August 28, 2009. Further details on the Private Placement and the Qualifying Transaction can be found in the Corporation's press release dated July 15, 2009.

    
    The TSX Venture Exchange Inc. has in no way passed upon the merits of the
    Transaction and has neither approved nor disapproved the contents of this
    press release.
    

Contacts

Mark Lawrence
President
Chief Executive Officer
Chief Financial Officer and Director
Software Growth Inc.
(416) 707-6630 or mark@northcrestpartners.com