BUS Systems Inc. announces cease trade order revocation in Quebec, Ontario and British-Columbia

Nov 20, 2008 3:27:00 PM

MONTREAL, Nov. 20 /CNW Telbec/ - BUS Systems Inc. ("BUS" or the "Corporation") (NEX: BUS-H), announces that the cease trade orders imposed by the Autorité des marches financiers ("AMF"), the Ontario Securities Commission ("OSC") and the British-Columbia Securities Commission ("BCSC") concerning the Corporation's securities have been fully revoked by orders of the AMF, BCSC and OSC dated respectively November 10, 2008, November 10, 2008 and November 18, 2008.

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Cease Trade Orders

BUS is a reporting issuer in the provinces of Québec, Ontario, British-Columbia and Alberta (the "Jurisdictions"). In 2008, for failing to file its audited financial statements for the year ended April 30, 2008 and its management's discussion and analysis relating to the audited annual financial statements for the year ended April 30, 2008 with the local securities regulatory authority or regulator (the "Decision Maker") in the Jurisdictions, the Corporation became subject to orders directing that trading in securities of BUS cease (the "Cease Trade Orders"). These failures were due to a lack of funds to pay for the preparation and audit of such statements and to effect payment of such fees.

The Cease Trade Orders were dated, in the case of the AMF, September 19, 2008, in the case of the OSC, September 17, 2008 which order extended a temporary cease trade order issued on September 5, 2008, and in the case of the BCSC, September 9, 2008.

The Corporation's shares will resume trading upon approval of the NEX market.

About BUS

The Corporation's shares are listed on the NEX market under the symbol "BUS-H". For additional information on BUS, please consult the Company's website at www.busconnect.com.

Forward-Looking Statements

This press release contains "Forward-Looking Statements" pursuant to the securities legislation which are based on certain estimates and expectations. Statements which are not based on historical fact, in particular statements on management's views and expectations, are Forward-Looking Statements. These statements are subject to certain risks and uncertainties and the actual results could differ materially from those presented. The Company is under no obligation to update any Forward-Looking Statement to take into account any new information, future event or any other factor.

The TSX Venture Exchange does not accept responsibility for the adequacy

or accuracy of this press release.


----------------------------------------------
Michel Maheux
 President and Chief Executive Officer
 BUS Systems Inc.
 (514) 386-3018
 f.maheux@videotron.ca; François Kalos
 SOLAK Communications
 (450) 993-0828
 kalos@solak.ca

 
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