RICHMOND HILL, ON, Sept. 12 /CNW/ - JITE Technologies Inc. ("Jite") (TSX
Venture Exchange: JTI) announces that pursuant to the authorization of its
shareholders by special resolution passed at its annual and special meeting
held on June 18, 2008, that it has now implemented an amendment to its
articles of incorporation to consolidate the 105,368,064 issued and
outstanding common shares of the Corporation on a 1 for 5 basis into
21,073,613 common shares. No fractional common shares of the Corporation shall
be issued in connection with the consolidation and, in the event that a
shareholder would otherwise be entitled to receive a fractional share upon
such consolidation, the number of common shares of the Corporation to be
received by such shareholder shall be rounded up to the nearest whole number
of common shares.
Trading in the post-consolidated common shares of the Corporation on the
TSX Venture Exchange will commence on September 15, 2008 under the symbol JTI.
JITE designs and manufactures electronic and electrical connection
devices for security, industrial control, automation, telecommunication, and
power supply industries. JITE is headquartered in Toronto, Canada and carries
out research and manufacturing operations in Shenzhen China at its ISO 9001
This press release contains forward-looking statements which reflect the
Corporation's current expectations regarding future events. The
forward-looking statements involve risks and uncertainties. Actual results
could differ materially from those projected herein. Although we believe that
our expectations are based on reasonable assumptions, we can give no assurance
that our expectations will materialize.
The TSX Venture Exchange Inc. has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: JITE Investor Contact: Henry Tse, Chief
Financial Officer, Tel: (416) 456-7803, www.jite.com