Nicer Canada Corp. signs letter of intent to acquire JM Information Technology Inc.


    VANCOUVER, Sept. 5 /CNW/ - Nicer Canada Corp. ("Nicer", "the Company")
(TSXV: NC) is pleased to announce that has signed a letter of intent to
acquire JM Information Technology (Shanghai) Inc. ("JMIT") in a share and cash
    Under the terms of the agreement, Nicer would purchase 66.67% of JMIT's
issued and outstanding shares for CAD$5.5 million. The Price will be paid as
to 60% in cash of CAD$3,300,000 and as to 40% by issue and delivery of common
shares (the "Nicer Shares") in the capital of Nicer on closing at a price per
Nicer Share equal to the closing price of Nicer's shares on the TSX Venture
Exchange (the "Exchange") on the last trading day preceding the date of final
acceptance of Nicer's filings in respect of the acquisition by the Exchange.
    JMIT founder and Chairman Dr. Wang Kaijiang would retain 33.33% ownership
of JMIT, which would be a Nicer operating subsidiary. Dr. Wang will continue
to lead research and development at JMIT, which holds numerous technology
patents. He received a Ph.D. from the Tokyo Institute of Technology and has
worked for MECCS, a Japanese business electronics manufacturer, and the
Strategic Planning Division of the Integrated Research Institute of Japan.
    The acquisition would give Nicer control of JMIT's industry-leading,
patented commercial information management Radio Frequency Identification
(RFID) software and its other products and facilities, as well as access to
its extensive customer base in China. JMIT technology is currently in use in
more than 20 enterprises, including some 500 chain stores of JMIT customers
such as Zara, American Sun Microsystems (China), Shanghai Hualian Lawson Co,
Fujitsu (China) and NEC Information Systems (China).
    The acquisition would be is a first step in Nicer's planned expansion
into China, which has the concentrated population base and advanced broadband
capacity needed for creating ubiquitous IP networks, a key component of
Nicer's growth strategy.
    "Acquiring JMIT gives Nicer access to the technology and markets we need
to grow," said Anne Chen, Nicer's Chief Operating Officer. "It also enables
Dr. Wang to continue to participate in the continuing development of RFID
technology and assist in the growth of both companies."
    Completion of the proposed acquisition is subject to execution and
delivery of formal documentation and acceptance of a filing respecting same by
the TSX Venture Exchange

    About Nicer Canada
    Nicer Canada Corp (NC) researches and develops a wide range of Internet
Protocol (IP) networks, applications and services for large and small
companies and telecommunications carriers. Since the company's founding in
1994, Nicer Canada has developed industry-leading expertise in delivering
wired and wireless Internet Protocol (IP) voice, data, video and IPTV
solutions to customers worldwide. Headquartered in Burnaby, British Columbia,
Canada, NC became a publicly traded company in 2003.

    FORWARD LOOKING STATEMENTS This news release may include "forward-looking
statements" regarding Nicer Canada Corp. and its subsidiaries, business and
project plans. Such forward looking statements are within the meaning of
Section 27A of the Securities Act of 1933, as amended, and section 21E of the
United States Securities and Exchange Act of 1934, as amended, and are
intended to be covered by the safe harbor created by such sections. Where
Nicer Canada Corp. expresses or implies an expectation or belief as to future
events or results, such expectation or belief is believed to have a reasonable
basis. However, forward-looking statements are subject to risks, uncertainties
and other factors, which could cause actual results to differ materially from
future results expressed, projected or implied by such forward-looking
statements. Nicer Canada Corp. does not undertake any obligation to update any
forward-looking statement, except as required under applicable law.

For further information:

For further information:; Nicer Canada Corp. Investor

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890