Vivonet Completes US $8.5 Million Financing with
Maxam Opportunities Fund LP

Vancouver, British Columbia – May 17, 2010. Vivonet, a software as a service (SaaS) company and the leader in secure web-based point-of-sale (“POS”) for the North American restaurant industry, today announced the completion of a US $8.5 million secondary and treasury financing with Vancouver-based private equity firm, Maxam Opportunities Fund LP. Capital West Partners acted as financial advisor to Vivonet for the transaction.

“This financing provides Vivonet with capital to fund its explosive growth, and to execute on several market disrupting opportunities” said Vivonet CEO, Ryan Volberg. “Maxam’s limited partners include many of western Canada’s most successful entrepreneurs, including the owners of several of North America’s most successful restaurant and retail brands. Maxam’s entrepreneurial background and substantial resources makes them an ideal partner for Vivonet.”

“We believe restaurant POS represents a massive opportunity” said Maxam Managing Partner, Sean Morrison. “Vivonet’s unique, single data-file enterprise architecture, web-based POS solution is compelling for both small restaurants as well as for some of the world’s largest food services companies. We are excited to be partnering with Vivonet at a stage when they are gaining traction on a number of fronts.”

About Vivonet, Inc.:

Established in 1999, Vivonet is the restaurant industry leader in software as a service (SaaS) solutions that enable, acquire and organize over one hundred million transactions every month for customers in Canada and the United States. Vivonet provides Halo™ Secure Web Based POS and on-demand enterprise management, POS, payment processing and performance benchmarking solution for its customers. Vivonet’s unique ability to aggregate the transaction data created by its customers allows their customers to benchmark their performance against other users and the industry at large – leading to better performance and higher business success rates.

Vivonet, Inc. expects to over double revenue in 2010 and for the fourth consecutive year has made the Ready to Rocket 25 list, recognizing Vancouver’s highest growth companies.

About Maxam

Maxam Opportunities Fund LP is focused on investments in mid-market companies and has over $100 million of committed capital under management. Maxam targets investments in a variety of complex situations, including non-core asset divestitures, management-led buyouts, recapitalizations, distressed debt, bridge loans and public market investing. Further information about Maxam can be found at www.MaxamCapitalCorp.com.

Media Contacts:

Kevin Froese
Vice President Sales and Marketing
E: kfroese[@]vivonet.com
T: 1.866.512.2033 x 106
W: http://www.Vivonet.com

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Vivonet Boosts the Speed and Performance of Halo Secure Web Based POS with a $1.2M investment in Oracle and Technology Infrastructure.

Vancouver, British Columbia – December 10, 2009. Vivonet is pleased to announce the investment of $1.2M into the data and technology infrastructure that powers Halo™ Secure Web Based POS. Implementation of the new technology infrastructure will be completed and in use for all Halo Secure Web Based POS clients by March 2010.

Key elements of the new Vivonet technology are; the introduction of a high density Hewlett Packard Blade System to improve Halo Secure Web Based POS performance, the addition of a 30TB Sun Storage Area Network to increase data storage capacity and reporting speed and an upgrade to Oracle Enterprise 11g to allow for improved data performance and management. In addition to these performance investments, technology improvements in security, redundancy and failover are being made that make Vivonet’s infrastructure a leader in software as a service (SaaS).

The rapid growth of the Halo™ Secure Web Based POS customer base was the primary driver for making the investment now rather than later. “In 2009, we exceeded even our most aggressive growth projections” said Ryan Volberg, Chief Executive Officer for Vivonet. “As a byproduct of this amazing success we are happily investing in our core technology stack. This investment not only allows us to scale our expanding customer base with ease, it also gives our existing customers a quantum leap forward with both speed and performance improvements. It really is a win – win investment.”

The Oracle Enterprise 11g technology allows for far more than just performance gains. “The Oracle investment in particular allows Vivonet to realize our ‘Organize’ strategy and lays the foundation for significant data product enhancements such as market based sales and product benchmarking” said Tom Kakanowski, Chief Technology Officer for Vivonet. “If you think about it, Vivonet currently owns and manages the world’s largest data warehouse of independent restaurant transactions with almost 100 million transactions hitting our Oracle database every month. This new technology is the basis for which we can begin to leverage this data for the benefit of our clients and our shareholders.”

About Vivonet

Established in 1999, Vivonet is the restaurant industry leader in software as a service (SaaS) solutions that enable, acquire and organize millions of transactions every month for customers across Canada and the United States. Vivonet provides Halo Secure Web Based POS an on-demand enterprise management, point-of-sale (POS), payment processing and performance benchmarking solutions for its customers. Vivonet’s unique ability to aggregate the transaction data created by its customers allows their customers to benchmark their performance against other users and the industry at large – leading to better performance and higher business success rates.

About Halo Secure Web-Based POS

As the industry leader, Halo™ Secure Web-Based POS powered by Vivonet gives restaurateurs the tools, information and knowledge they need to run better. In fact, restaurants that use Halo Secure Web Based POS outperform the National Restaurant Association’s sales index by an average of 3.88%. For more information about Halo™ Secure Web-Based POS, please visit www.Vivonet.com.

Media Contact:

Kevin Froese
Vice President Sales and Marketing
E: kfroese[@]vivonet.com
W: www.Vivonet.com
T: 1.866.512.2033 begin_of_the_skype_highlighting              1.866.512.2033      end_of_the_skype_highlighting x 106

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