MONTREAL and PARIS, France, November 3, 2010 – PARTA SUSTAINABLE SOLUTIONS INC. (“Parta”) (TSX-V: PAS), is pleased to announce it has completed a private placement by the issuance of 8,680,760 units issued at a price of $0.05 per Unit composed of one common share and one common share purchase warrant (a “Unit”) for a total subscription price of $ 434,038. Each whole warrant will allow the holder to purchase an additional common share of Parta at the price of $0.10 for a period of 5 years. The net proceeds of this private placement will be used to pay down debt and for general working capital purposes. Securities issued as part of this offering will be subject to a four-month holding period. Parta is also pleased to announce it has converted debentures in the sum of $200,000 and issued 4,000,000 common shares of Parta to the holders of such debentures at an issue price of $0.05 per common share.
Parta also issued its third quarter report, which includes details of the finalization of a private placement as well as the release of new enterprise-level social network management tools. Sales have increased by 108% for the quarter ending August 31, 2010 (“Q1 2011”), compared with the quarter ending August 31, 2009 (“Q1 2010”), and Parta saw its losses grow by 103%. This is mainly due to the amortization of intangible assets acquired in May 2010 for an expense of $84,941 in the first quarter of 2011. Sales growth, combined with a higher marginal contribution has enabled the company to see its gross profit increase of 320% over the first quarter of 2010. The increase in the marginal contribution is mainly due to the sales of new Social Media Platform solutions. It should be noted that sales of e-learning are historically low during the summer season and that sales of e-learning conducted during the first quarter of 2010 accounted for 13% of sales for the fiscal year ended May 31, 2010.
Similarly, EBITDA and adjusted EBITDA rose by 16% from a loss of ($110,658) for the first quarter 2010 to a loss of ($94,440) for the first quarter of 2011. Loss per share was $0.01 in Q1 2011, to be compared to loss per share of $0.01 in Q1 2010. PARTA’s total assets as of August 31, 2010 amounted to $2,164,105, compared to $2,264,239 as at May 31, 2010.
Moving forwards with the optimization of its CIMS™ (Collective Intelligence Management System), Parta has recently unveiled the design of data gathering service, based primarily on social media monitoring software and online discussion-generating approaches. These innovative solutions, actively sought by existing clients, will allow Parta to maintain its pole position as an expert in dialogue with stakeholders serving leading international corporations.
Finally, Parta was signified with a legal action from a shareholder of AMI claiming from Parta and Ami jointly the sum of his initial investment in AMI namely the sum of $62,000 and seeking as a subsidiary conclusion the cancellation of the recent transaction between AMI and Parta. Parta believes this action has no merit.
About Parta (www.partadialogue.com)
Parta offers corporations an integrated Social Media Platform that enables issue management, employee engagement, E Learning and Open-Innovation with internal and external stakeholders. Through its turnkey solution, the CIMS™ (Collective Intelligence Management System), Parta assists its international clients develop business advantage by engaging dialogue with their stakeholders. Parta’s mission is to be a change agent that works to generate global benefit and competitive advantages to its international clients.
Parta operates three fully owned subsidiaries: Edu-Performance Canada Inc. (www.eduperformance.com) – its E-learning unit, Alternative Channel TV Inc. – it’s social marketing unit and Parta Dialogue SAS – it’s French operating unit. Parta also owns and operates a series of Social Media properties: www.alternativechannel.com; www.ecomobility.tv, www.eauzone.tv, www.energy2point0.com and www.greenpod.fr.
Parta is a publicly traded company listed on the TSX Venture exchange under the symbol PAS. For further information please see www.partaworld.com. Parta, Alternative Channel™, Eauzone™, Ecomobility™, Edu-Performance™, Energy2point0™ and CIMS™ are trademarks of Parta. Other names are for informational purposes only and may be trademarks of their respective owners.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information please contact:
| Paul Allard, President and Chief Executive Officer & Chairman of the Board, Parta Sustainable Solutions Inc. +1 (450) 466-7275 ext 35 paul.allard@partadialogue.com |
| André Goli, VP Marketing, Parta Sustainable Solutions Inc. +1 (450) 466-7275 ext 23 agoli@eduperformance.com |








