TORONTO, Feb. 29 /CNW/ - JM Capital Corp. ("JMC") (TSX-V:JMC.P), a
capital pool company, is pleased to announce that it has filed its Filing
Statement on SEDAR (www.sedar.com) pursuant to TSX Venture Exchange
requirements in connection with its previously announced qualifying
transaction with Tekion, Inc. ("Tekion"). It is anticipated that closing of
the transaction will occur in the next 60 days.
The Filing Statement is the disclosure document that outlines the details
of the qualifying transaction, the concurrent private placement, information
about JMC and information about the target company, Tekion, and its business,
including financial statements of JMC, Tekion and a pro forma balance sheet.
Readers of this release are encouraged to review the information in the Filing
About Tekion, Inc. (www.tekion.com)
Tekion, a Delaware corporation, currently operates out of Burnaby,
British Columbia, through its wholly owned subsidiary, Tekion (Canada) Inc., a
corporation incorporated pursuant to the laws of Canada. Tekion is currently
developing a micro fuel cell that will be used to power a number of different
mobile devices. By integrating advanced battery technology with a unique micro
fuel cell technology, Tekion is creating a new "personal power source". Known
as a Formira(TM) Power Pack, this new power source will be capable of fitting
inside certain mobile devices.
Tekion has patent pending technology relating to fuel, cost, size, and
performance which creates a significant barrier to competition in certain
micro fuel cell applications. Utilizing its patent pending Formira(TM) fuel
cell technology, Tekion has developed an operational fuel cell powered
portable communications device, which has the potential to deliver more energy
at costs competitive to the best available batteries. Tekion is focused on
defined market segments that require immediate solutions in the milliwatts to
watts range. Tekion continues to build its fuel cell development team of
scientists, engineers and marketing personnel. Tekion's business focus is to
develop, market and sell viable products to generate revenue and returns to
shareholders within a reasonable timeframe.
Completion of the transaction is subject to a number of conditions,
including but not limited to final TSX Venture Exchange approval. There
can be no assurance that the transaction will be completed.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the
proposed transaction and has neither approved nor disapproved the
contents of this press release.
For further information:
For further information: Jay Freeman, Chief Executive Officer, JM
Capital Corp., Tel: (416) 972-6197; Neil Huff, Chief Executive Officer,
Tekion, Inc., Tel: (604) 656-6617, Email: email@example.com