updated 9/23/2010 5:15:25 AM ET 2010-09-23T09:15:25

TORONTO, Sept. 22, 2010 (GLOBE NEWSWIRE) -- Degama Software Solutions, Inc. (Pink Sheets:DGMA) is pleased to update shareholders with news that its relationship with both Brazcan, SA and Absoluta Imóveis has resulted in substantial positive attention to its IP capabilities and application. Brazcan, SA and Absoluta have both made warm introductions to counterparts and businesses they believe would be served well with Degama IP supplementing existing models.

CEO Seijin Ki comments, "Thanks to successful agreement negotiation and a growing base of strategic relations, several companies have identified a potential use for Degama software services. We have, since our last release, entered into negotiations with a number of Brazilian companies that would be of great mutual benefit." He continues, "The rate at which this has been achieved is tremendous, let alone unanticipated, but nothing we aren't prepared to take on full force."

Degama has initiated its focus in Brazil with the booming Real Estate industry and its providers in LOIs, Agreements and/or Service Contracts with Brazcan, S.A. and Absoluta Imóveis. "These new introductions have continued on this path, but, in addition, have helped us venture outside the real estate sector into other exciting industries that our proprietary technology would be a great fit," states Ki. 

As a result, Degama executives feel that their previously released projections of $3-4 million in additional revenues for the company are now overly conservative and will prepare projections in line with additional clients in tow as they enter contract stages, accordingly. "I am confident that these figures will be at least double the original outlook within 12 months after the launch in both North and South Brazil," adds Ki. 

Degama is anticipating several new clients in the region in the very near future and will release additional details in regards to Absoluta and others in Brazil in the coming days.

According to Wikipedia, dated April 2010, the economy of Brazil is the world's eighth largest economy by nominal GDP and ninth largest by purchasing power. Brazil has moderately free markets and an inward-oriented economy. Its economy is the largest among all South American nations and the second largest in the western hemisphere. Brazil is one of the fastest-growing major economies in the world with an average annual GDP growth rate of 5%. In Reais (Brazilian currency), its GDP is estimated at R$2.9 trillion in 2009. The Brazilian economy has been predicted to become one of the five largest economies in the world in the decades to come, the GDP per capita following and growing.

About Degama Software Solutions, Inc.

Degama Software Solutions, Inc. is a leading edge technology company that develops and markets proprietary location based software solutions and applications for consumers and businesses. Degama Software Solutions, Inc. is a publicly listed company (Pink Sheets:DGMA)

Degama Software Solutions Inc. (Degama) markets and builds applications, or "apps" to make it simpler and more enjoyable for people to share information and get things done together. In a vast world, Degama helps people navigate through their days and travels while at the same time staying connected to their friends, family and the world.

Degama is committed to developing and delivering the best products. As mobile devices become increasingly central to people's lives, we work hard to help you get the information you need when you are on the go. For more information about Degama Software Solutions, please visit www.degamasoftwaresolutions.com

Safe Harbor: This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.

 Release Prepared by NMR, LLC

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

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