GeoSentric Oyj - Company Announcement

FINANCING ROUND UPDATE, PRELIMINARY AGREEMENT ON 6M€ ADDITIONAL FINANCING

GEOSENTRIC OYJ      STOCK EXCHANGE RELEASE May 31, 2010 at 9:00                 


FINANCING ROUND UPDATE, PRELIMINARY AGREEMENT ON 6M€ ADDITIONAL FINANCING       

As previously informed GeoSentric Oyj has been preparing a new financing round  
to raise additional financing through the Company's fully owned Dutch subsidiary
GeoSolutions Holdings N.V. to secure the working capital needs of the group and 
to support the execution of the business plan. As disclosed on March 29, 2010   
the Company has decided to extend financing round until the end of the year     
2010. As the Company also informed in its Financial Statements 2009 release     
published on March 31, 2010 it will need to raise at minimum 6M€ of external    
financing during the Q2 2010 to secure sufficient liquidity.                    

The Company has now reached a preliminary agreement on a short-term 6M€         
financing package with its lead investor, securing sufficient liquidity. The new
financing would be part of the current financing round but also introduce some  
changes to the terms of Company's current convertible bond loan terms, as       
requested by the investors, resulting in a clearly increased dilutive effect on 
the shareholdings in the Company.                                               

The details of the financing will be released as a part of the invitation to the
Annual General Meeting, which will be released in the next days to come, subject
to final agreement with the investor on the specific terms and requirements.    


GeoSentric Oyj                                                                  


For more information, please contact: investors@gypsii.com                      

Distribution:                                                                   
NASDAQ OMX Helsinki                                                             
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