Luxell and Lux Acquisition Corporation Announce Results of Special Meeting of Luxell Shareholders Approving the Going-Private Transaction



    TORONTO, April 20 /CNW/ - Luxell Technologies Inc. ("Luxell") (TSX:LUX)
and Lux Acquisition Corporation ("LAC") announced today that Luxell's
shareholders have approved by way of special resolution, the continuance of
Luxell under the federal jurisdiction of Canada (the "Continuance") and the
amalgamation of Luxell with LAC (the "Amalgamation").
    The Continuance was approved by 99.78% of the votes cast by shareholders
at the meeting. The Amalgamation was approved by 99.65% of the votes cast by
shareholders at the meeting, including 99.16% of the votes cast for purposes
of the majority of the minority approval requirements of applicable securities
laws. The Continuance and Amalgamation will be effective on or about April 28,
2009 and will be followed by the redemption of the redeemable preferred shares
provided for under the Amalgamation, thereby completing the previously
announced going-private transaction with LAC.
    Pursuant to the Amalgamation, all holders of Luxell common shares, other
than LAC and its affiliates, will be entitled to receive $0.10 per share, in
the form of a promissory note, by way of the redemption of redeemable
preferred shares of the amalgamated corporation, all as more fully described
in the meeting materials mailed to shareholders of Luxell and filed on SEDAR
(www.sedar.com) in connection with the special shareholders meeting to approve
the Continuance and Amalgamation.
    As soon as practicable following completion of the Continuance and
Amalgamation, it is expected that the common shares of Luxell will no longer
be traded on the Toronto Stock Exchange. Additionally, Luxell will make an
application to the Canadian securities regulatory authorities for an order
that Luxell will no longer be a reporting issuer (or equivalent) under
applicable Canadian securities laws and no longer be listed for trading on the
TSX.

    About Luxell

    Luxell designs, manufactures and licenses flat panel display technologies
and solutions for the defense and aerospace industries. More information can
be found at www.luxell.com. Luxell Technologies Inc., Luxell and Black Layer
are trademarks of Luxell Technologies Inc. All other company and/or product
names are trademarks and/or registered trademarks of their respective
manufacturers.

    %SEDAR: 00008266E




For further information:

For further information: Luxell Technologies Inc., Jean Louis Larmor,
Chief Executive Officer, Tel: (905) 363-0325, Email: jlarmor@luxell.com

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LUXELL TECHNOLOGIES INC.

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