Extenway Completes Debt Settlement and Second Tranche of a $2,915,600 Private Placement and Grants Options - Seite 2

Pursuant to the Transactions, the Caisse acquired ownership and control of approximately 21.19% of the Company's issued and outstanding common shares on an undiluted basis and became a new "Control Person" of the Company under the policies of the Exchange. The Company has received the requisite written consents to authorize the creation of the new "Control Person" from disinterested shareholders of the Company holding more than 50% of the issued and outstanding voting shares of the Company held by all disinterested shareholders.

The proceeds of the Second Tranche will be used for working capital purposes.

IRR Capital Inc., an exempted market dealer, acted as finder for a portion of the Second Tranche and received a finder's fee consisting of 300,000 common shares of Extenway at a deemed price of $0.08 per share (the "Finder's Fee Shares").

The Shares and Finder's Fee Shares are subject to a four-month plus one-day hold period from the Closing Date, expiring on July 26, 2015, pursuant to securities legislation and the policies of the Exchange. Neither the Shares nor the Finder's Fee Shares have 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. The Transactions remain subject to the final approval of the Exchange.

Option Grants

The Company also announces a grant of 3,083,334 incentive stock options (the "Options") to three senior officers of the Company, each Option being exercisable to acquire one common share of the Company at an exercise price of $0.08 per share for a period of 5 years from the Closing Date. The Options were granted to Messrs. McAllister and Brown and another senior officer of the Company on closing in connection with the Transactions pursuant to amended employment agreements entered into by the Company with each of them, as a means of reducing the overall cash compensation to be paid for their services to the Company. The Options are governed by the Company's stock option plan and will vest in three equal tranches on March 30, 2015, October 30, 2015 and April 30, 2016.