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EDMONTON, ALBERTA -- (Marketwire) -- 06/22/12 -- Serenic Corporation (the "Company" or "Serenic") (TSX VENTURE: SER), an international software developer specializing in integrated financial management and human capital management ("HCM") solutions for Non-Profit organizations, government agencies, and Microsoft Dynamics NAV users, announces its financial results for the three months and year ended February 29, 2012.

Financial results are summarized as follows:

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                                             Three months ended:
                                   -----------------------------------------
                                                                  Increase
                                    Feb 29, 2012  Feb 28, 2011  (decrease)
                                   -----------------------------------------
                                               $             $           %
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Revenue                                2,602,361     3,270,488       (20.4%)
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Net income (loss)                         47,580       403,293       (88.2%)
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Basic and diluted income (loss) per
 share                                         -          0.03      (100.0%)
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EBITDA (1)                                62,046       559,642       (88.9%)
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EBITDA as a % of sales                       2.4%         17.1%      (86.0%)
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Weighted average common shares
 outstanding - basic                  15,105,683    15,190,458
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                                                 Year ended:
                                   -----------------------------------------
                                                                  Increase
                                    Feb 29, 2012  Feb 28, 2011  (decrease)
                                   -----------------------------------------
                                               $             $           %
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Revenue                               10,860,633    11,954,843        (9.2%)
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Net income (loss)                       (176,375)       78,353      (325.1%)
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Basic and diluted income (loss) per
 share                                     (0.01)         0.01      (200.0%)
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EBITDA (1)                               175,654       592,540       (70.4%)
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EBITDA as a % of sales                       1.6%          5.0%      (68.0%)
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Weighted average common shares
 outstanding - basic                  15,164,562    15,190,403
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(1) EBITDA represents earnings before interest, taxes, depreciation, amortization, and stock based compensation. Please review the Serenic Management Discussion and Analysis for the three months and year ended February 29, 2012 for more information

Summary of Operations in Fiscal 2012

--  Our efforts in Fiscal 2012 were primarily in support of two objectives -
    to increase the value of the Company by advancing our position as a
    global leader in our niche markets while managing our business within
    acceptable risk parameters, and to investigate strategic alternatives
    for that value to be realized by all stakeholders of the Company.
--  From an operational perspective, the primary challenges were the
    continuing sluggish global economies which manifested in fewer new
    projects and hesitation by organizations looking to conserve precious
    resources. Customer confidence in funding has not fully returned, which
    significantly impacts willingness to deploy new technology. Market
    expectations are continually shifting, and Serenic adjusts to those
    shifts by consistently investing resources to ensure that our
    applications remain at the leading edge within our industry, both
    functionally and technically.
--  With respect to the investigation of strategic alternatives during
    Fiscal 2012, eight business development scenarios were identified and
    reviewed. Although some of these have been rejected because they do not
    represent a viable fit that would provide adequate fair value for
    Serenic shareholders, others may continue to be further investigated.
--  We instituted a normal course issuer bid in Fiscal 2012, which has
    resulted in the buyback by the Company to June 19, 2012 of 313,500
    shares (approximately 2.1% of the stock issued) since commencing this
    program in June, 2011.
--  Serenic continued to make progress as a preferred supplier in its niche
    markets, and has continued to gain more prominence within certain
    international markets. For example, after nearly 3 years of marketing
    and sales efforts, our applications were purchased by a local Ugandan
    government in Fiscal 2012, which is now the third African local
    government to have selected and adopted Serenic solutions over competing
    products.
--  Our reseller partner channel continued to grow in Fiscal 2012, with the
    addition of partners in the Netherlands, South Africa, and Canada, and
    many new customers selected our products to advance their financial,
    fund and donor management opportunities.
--  Serenic was again recognized by Microsoft in Fiscal 2012, whereby
    Serenic was appointed to Microsoft's Inner Circle and President's Clubs
    for its business excellence. This is the 6th time in the past 9 years
    that Serenic has been named to the Inner Circle, which recognizes the
    top 1% of Microsoft's nearly 10,000 Dynamics partners world-wide.

Fiscal 2012 Financial Highlights

--  Revenue in Fiscal 2012 declined year over year primarily because we sold
    fewer large deals than the previous year, both in North America and
    internationally. Additionally, we experienced challenges in closing one
    of the larger sales we expected in Africa, wherein the country's
    currency controls prevented the sale from being closed prior to the
    fiscal year end. Overall, pipeline activity continues to grow, as does
    the number of current active engagements.
--  Navigator license sales made through our North American reseller
    partners, who generally cater to smaller organizations, remained
    consistent with the prior year. HCM license and recurring revenue from
    maintenance and training increased over the prior year.
--  The Company released to market its first Software as a Service (SaaS)
    model of its products in Fiscal 2011, which generated a nominal amount
    of revenue during the year. We continue to fine-tune this product
    through client and prospect feedback to determine the ideal balance
    between the ease of use vs. depth of functionality mix and management
    believes that this on-line offering will ultimately enjoy good market
    success.
--  Serenic's year over year revenue growth was also impacted negatively due
    to foreign exchange in Fiscal 2012. We invoice primarily in U.S.
    dollars, and because the average effective foreign exchange conversion
    rate of U.S. to Canadian dollars decreased from $1.0178 to $0.9926 year
    over year, this reduced reported revenue which is stated in Canadian
    dollars by $277,361.
--  While revenue decreased by 9.2%, gross profit declined by only 4.1% from
    $7,820,614 to $7,500,856. Net expenses after software development cost
    capitalization increased nominally by 2.2% from $7,629,351 to $7,794,411
    year over year, despite the Company having to incur $103,000 in legal
    expenses to successfully defend a trademark.
--  Overall, the Company posted a loss of $176,375 in the current fiscal
    year versus net income of $78,353 last year, due to the reduced gross
    profit and increase in expenses. EBITDA remained positive at $175,654 or
    1.6% of revenue. Maintaining positive EBITDA will continue to be a
    critical factor considered by management to determine allocation of
    resources to grow market share and business value, while also mitigating
    risk factors.
--  We finished the year with cash of $3,935,658, which is a small decrease
    from last year's $4,111,140, and the Company remains free of any long
    term debt.

Quarter Highlights

--  While HCM license sales in Q4 this year were similar to Q4 last year,
    Navigator license sales declined due to the fact that a single large
    sale which occurred in Q4 last year did not repeat in Q4 this year.
    Revenue from client services and software maintenance both increased in
    Q4 this year, as compared to the prior year. Total revenue and gross
    profit declined in the current quarter by 20.4% and 10.7%, respectively,
    as compared to Q4 in the prior year. Although the gross profit earned on
    software maintenance and client services revenue was higher in Q4 this
    year than last, and software license sales margins improved, their
    combined effect was insufficient to overcome the gross profit loss
    caused by the reduced software license revenue.
--  Expenses before software development cost capitalization rose by
    $154,052 or 7.9%. Legal fees arising from the trade mark action referred
    to earlier were all incurred in Q4 of this year and this, combined with
    higher office lease costs, caused general and administrative costs in Q4
    to increase year over year by $94,452 or 49.1%. Other factors
    contributing to the expense increase were higher marketing expenses and
    higher salary and employee benefits costs, as a result of having more
    employees in the current quarter. Software development cost
    capitalization reduced by $126,382 from last year, which contributed to
    total expenses rising by $280,434 or 17.1%.
--  The decrease in revenue and gross profit and increase in expenses caused
    net income to reduce from $403,293 to $47,580. EBITDA remained positive
    for the quarter at $62,046, although it reduced from last year due to
    the reduction in net income.

Please refer to the latest financial statements and MD&A filed on www.sedar.com for full financial analysis and details.

Outlook

Management believes the outlook for Serenic stakeholders remains positive. Our strategy for Fiscal 2013 is to continue organic growth of core operations through prudent re-investment of our resources, to maintain EBITDA positive results as we grow our business, and to continue to pursue scenarios to maximize value for our shareholders beyond what organic growth would produce.

From an operational perspective, this will involve continuation of development projects that commenced in Fiscal 2012 to ensure that our solutions and products remain at the forefront of technology and functionality as demanded by our marketplace. We will build on our well received "The Year of the Customer" theme that was initiated in Fiscal 2012, in order to further enhance and solidify our clients' experience and loyalties, and will continue to focus on the addition of new customers and partners world-wide.

From a corporate development perspective, we will continue to pursue various strategic opportunities that have potential to enhance shareholder value. These alternatives could involve a capital structure review, strategic partnerships, and/or merger and acquisition scenarios. Management strongly believes that the current market capitalization of the Company as reflected in its share price does not adequately reflect Serenic's fair value and is determined to take appropriate action that would best serve the interests of shareholders to rectify this situation, as soon as possible.

With $3.94 million of cash on hand ($0.26 per basic common share outstanding) at Fiscal 2012 year end and no long term debt, we believe the Company is adequately financed to operate as anticipated. We are excited about our future opportunities and remain confident in our belief that our intended course of action for Fiscal 2013 will result in the achievement of greater value for all of our stakeholders.

About Serenic Corporation

Serenic Corporation publishes mission-critical software products for not-for-profits (NFP), educational institutions and governments. The Company's products are based on leading application and technology platforms from Microsoft, including Dynamics NAV, SQL Server, and .NET, and are distributed in North America and internationally through value-added resellers and a direct sales organization. Serenic Corporation is the exclusive developer of human resource management and payroll products for Microsoft Dynamics NAV ERP users in North America. Serenic has offices in Edmonton, Alberta and Denver (Lakewood), Colorado and staff located throughout the USA, and in Europe and Africa.

ON BEHALF OF THE BOARD OF DIRECTORS

By: Dwayne Kushniruk, Chairman

SERENIC CORPORATION

Forward Looking Statements

Certain statements contained in this press release, including statements which may contain words such as "could", "should", "expect", "anticipate", "believe", "will", and similar expressions and statements relating to matters that are not historical facts, are forward looking statements. Such forward looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances or achievements of Serenic Corporation to be materially different from any future results, performances or achievements expressed or implied by such forward looking statements. Such factors include, but are not limited to, software industry risks, general business risks, foreign currency risks, economic dependence risks, and credit risks.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.