Magor Corporation awarded another order in excess of $200,000, reports largest backlog in company’s history
OTTAWA, Ont. – December 11, 2014 — Magor Corporation (“Magor” or the “Company”) (TSX-V: MCC), a technology leader in visual collaboration solutions, today announced that it has received an additional purchase order from our EMEA region, valued at approximately $220,000, for All-in-One (AIO) executive units and meeting rooms to be installed in the headquarters location and a number of regional locations. In addition, 18% of the software component of the order value will be paid going forward annually for software assurance. With this order, the Company currently has close to $1,700,000 of backlog.
“After a slow start to the fiscal year, we are pleased to see the large growth in our orders and look forward to this continuing,” said Mike Pascoe, President and CEO of Magor Corporation. “With our current backlog approaching all of last year’s revenues and a strong qualified sales pipeline, we are looking forward to a very strong year of performance.”
About Magor Corporation:
Magor enables people to engage in high-quality visual conversations while simultaneously sharing, viewing and editing relevant collaborative material on desktops, laptops, tablets, smartphone applications, whiteboards and other devices. Magor fits any workflow so that users have the freedom to work together naturally anytime, regardless of location, network or device. To find out more about Magor Corporation (TSX-V: MCC), visit our website at www.magorcorp.com.
For further information, please contact:
President and CEO
+1 613 686-1731
Virtus Advisory Group Inc.
+1 416 995-8651
Senior Marketing Manager
+1 613 686-1731 ext. 5526
This news release may contain “forward-looking information” within the meaning of applicable Canadian securities legislation. Statements made in this news release, other than those concerning historical financial information, may be forward-looking and therefore subject to various risks and uncertainties. The words “may”, “will”, “could”, “should”, “would”, “suspect”, “outlook”, “believe”, “plan”, “anticipate”, “estimate”, “expect”, “intend”, “forecast”, “objective”, “hope”, and “continue” (or the negative thereof), and words and expressions of similar import are intended to identify forward-looking statements. Certain material factors or assumptions are implied in making forward-looking statements and actual results may differ materially from those expressed or implied in such statements. Factors that could cause results to vary include those identified in the Corporation’s filings with Canadian securities regulatory authorities, as well as the applicability of patents and proprietary technology; the outcome of pending corporate transactions; possible patent ligation; regulatory approval of products in development; changes in government regulation or regulatory approval processes; government and third party reimbursement; dependence on strategic partnerships; intensifying competition; rapid technological change in the industry; anticipated future losses; the ability to access capital; and the ability to attract and retain key personnel. All forward-looking information presented herein should be considered in conjunction with such filings. Except as required by Canadian securities laws, the Corporation does not undertake to update any forward-looking statements; such statements speak only as of the date made.
Neither 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.