News ID

Lyrtech Announces the Closing of the Acquisition of Innovator


Quebec City, Canada (May 4, 2006). Lyrtech Inc. (TSX Venture Exchange: LYT), a worldwide leader in digital signal processing (DSP) technologies, is pleased to announce the closing of the acquisition of the business assets of Innovator Electronic Assembly, including those of 4190718 Canada Inc., a sister company of Innovator Electronic Assembly (“Innovator”), a Montreal based company that provides advanced electronic manufacturing services, as well as a private placement financing of $6 million and the establishment of a new banking facility of $8.5 million with Bank of Montreal. The acquisition and private placement financing were carried out under the same terms as announced in Lyrtech's press release dated April 7, 2006. Lyrtech did not have to proceed with the issuance of a subordinated non-convertible debenture of $2.0 million, as previously announced in Lyrtech's press release dated April 7, 2006, as sufficient funds were raised through the private placement financing.

Innovator Electronic Assembly

About Lyrtech

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For more information, contact:

Alain Landry, Chief Financial Officer, Lyrtech

T (418) 877-4644

F (418) 877-7710

Migüel Caron, President and Chief Executive Officer, Lyrtech

T (418) 877-4644

Brian Mink, President, Innovator

T (514) 429-9000

Marie-Claude Leroux, Morin Relations Publiques

T (514) 289-8688

Source: Lyrtech