GuestLogix Inc. reported that the previously disclosed forbearance agreements, pursuant to which the Company's senior lender and subordinated lenders agreed to forbear from taking any steps to demand repayment of the amounts owing under the Company's USD 7.5 million senior revolving credit facility and CAD 9 million subordinated term credit facility, expired on December 31, 2015. The Company is in negotiations with the Lenders to extend the forbearance period and expects to complete these negotiations this week. The Company has been advised that the Lenders will not seek to enforce any of their rights under the amended facilities agreement during this period.

The extensions are to provide the Company with additional time to continue its previously disclosed review of strategic alternatives to enhance shareholder value, which is being carried out by its financial advisor, Canaccord Genuity.