Imperus Announces Restatement of Financial Statements and CoImperus Announces Restatement of Financial Statements and Corporate Update (via Thenewswire.ca) Toronto, Ontario / TheNewswire / February 24, 2015 - Imperus Technologies Corp. ("Imperus" or the "Company") (TSX-VENTURE: LAB, Frankfurt: ISX, Frankfurt WKN: A12B58) announces that in connection with the closing of its previously announced private placement financing of 70,644,500 subscription receipts of the Company at a price of $0.35 per subscription receipt, it will file a prospectus to qualify the distribution of the common shares and warrants issuable on the automatic exercise of the subscription receipts. The prospectus will incorporate by reference the unaudited financial statements and management's discussion and analysis of the Company for the interim period ended September 30, 2014 with comparative figures to the same period ended September 30, 2013. The figures in the unaudited financial statements and management's discussion and analysis for the interim period ended September 30, 2014 have been restated to reflect certain changes. For details of the impact to the results of the Company, please refer to the detailed disclosure included in the amended and restated unaudited financial statements and amended and restated management's discussion and analysis for the interim period ended September 30, 2014, which are available on SEDAR at www.sedar.com. The substance of the changes is as follows: Warrants During the period, the Company incorrectly recorded cash receipts related to warrants exercised and held by the transfer agent. The Company has restated the September 30, 2014 statement of financial position and the statement of changes in shareholders' equity for the nine month period ended September 30, 2014 to correct the entry resulting in a decrease of cash and cash equivalents of $63,450 and a decrease in share capital. Note receivable from Cladstone Limited During the period, the Company incorrectly recorded a cash receipt related to the note receivable from Cladstone Limited. The Company has restated the September 30, 2014 statement of financial position and the statement of loss and comprehensive loss for the nine month period ended September 30, 2014 to correct the entry resulting in a decrease of note receivable of $44,473 and a decrease in interest income of $2,923 and a $41,550 increase in foreign exchange loss. Value of share consideration related to Vast acquisition During the period, the Company recorded the fair value of the share consideration related to the acquisition of Vast Studios Inc. at the 20 day VWAP rather than the share price at the close of business on July 21, 2014. In addition, the Company did not discount the purchase price payable and contingent purchase. The Company has restated the September 30, 2014 statement of financial position and the statement of changes in shareholders' equity for the nine month period ended September 30, 2014 to correct the entry resulting in a decrease of unallocated purchase price of $172,036, a decrease in accounts payable and accrued liabilities of $28,489, a decrease in long term debt of $55,263, and a decrease in share capital of $88,284. Deferred financing fees During the period, the Company issued shares as part of a debenture financing and recorded the shares as a financing expense. The Company has restated the September 30, 2014 statement of financial position and the statement of loss and comprehensive loss for the nine month period ended September 30, 2014 to decrease debentures payable by $46,726 and decrease interest expense by $46,726. Subsequent events Disclosure of events subsequent to September 30, 2014 has been updated in the interim restated financial statements and management's discussion and analysis for the period ended September 30, 2014. The Company's December 31, 2013 audited annual financial statements and the results for the unaudited interim period ended September 30, 2013 are unaffected as a result of this restatement. TSX Venture 50 Imperus announces it has achieved a ranking in the 2015 TSX Venture 50(R). Every year, the TSX Venture 50 ranks the strongest companies on the TSX Venture Exchange by share price, trading volume, market capitalization and analyst coverage. The companies listed in the TSX Venture 50 have seen impressive growth over the past year, offered strong return to their shareholders and are actively traded in the market. Imperus is honored to have achieved this ranking. Management Changes Following the acquisition of Diwip Ltd. and as part of an effort at Imperus to focus on efficiencies and cost savings, the Company also announces the departure of Mr. Lothar Rentschler as Chief Marketing Officer of the Company, the departure of Ute Koessler as Vice President - Corporate Development & Communications and the departure of Michele Clayborne as Vice President of Public Relations and Branding. The Company wishes them well in their future endeavors.