PowerComm Inc. to acquire Precision Instrument & Supply Ltd.

    EDMONTON, July 29 /CNW/ - Mr. Wayne R. Rutherford, President and CEO of
PowerComm Inc. (PCG:TSX) ("PowerComm" or the "Company") announced today that
an agreement had been reached to acquire Precision Instrumentation & Supply
Ltd. (Precision).
    Precision is an industrial instrumentation construction and maintenance
company located in Coleville Saskatchewan. In addition Precision operate an
oilfield supply facility, a Pressure Safety Valve (PSV) repair shop and a Skid
Manufacturing operation in Coleville as well.
    "Precision is a quality, family operated business with solid reputation
in their markets," said Wayne Rutherford, "They have built strong, well
managed operations in a geographic location where PowerComm currently doesn't
have operations." he continued. "This is exactly the type of opportunity we
are pursuing and are very pleased to have been able to reach an agreement with
the owners of Precision." he concluded.
    "Precision was built on a family orientated style of business and we are
excited to begin the next phase in growing our business in order to not only
meet, but exceed our customer's expectations. PowerComm's diverse spectrum of
services will allow us to offer our customers new options in both maintenance,
and construction that we were not able to bring to the table before. As our
industry continues to grow in Saskatchewan we feel by aligning with a company
such as PowerComm it will enable us to not only maintain, but grow our strong
presence in Instrumentation as well as add the ability to provide complete
Electrical and Valve services. Our management and staff look forward to
working with and being part of the PowerComm group." said Trent and Carey
Herner, Owners of Precision.
    The transaction is subject to due diligence and approval by the Board of
Directors of PowerComm and regulatory approval.

    Reader Advisory

    The news release contains certain forward-looking statements, including
management's assessment of future plans and operations and capital
expenditures and the timing thereof, that involve substantial known and
unknown risks and uncertainties, certain of which are beyond PowerComm Inc.'s
control. Such risks and uncertainties include, without limitation, risks
associated with the Corporation's ability to market successfully to current
and new customers; supply and demand for PowerComm Inc.'s services and
products and industry activity levels; capital expenditure programs;
projections of commodity prices and costs; the Corporation's ability to obtain
material and equipment from suppliers; operating risk liability; expansion of
services and products by internal growth or acquisition; the Corporation's
ability to obtain additional financing on satisfactory terms; the impact of
general economic and industry conditions; changes in laws and regulations
(including the adoption of new environmental laws and regulations) and changes
in how they are interpreted and enforced; competitive conditions; the lack of
availability of qualified personnel or management; fluctuations in foreign
exchange or interest rates, stock market volatility; and obtaining required
approvals of regulatory authorities. PowerComm Inc.'s actual results,
performance or achievements could differ materially from those expressed in,
or implied by, these forward-looking statements and, accordingly, no
assurances can be given that any of the events anticipated by the
forward-looking statements will transpire or occur, or if any of them do so,
what benefits, including the amount of proceeds, that PowerComm Inc. will
derive therefrom. Readers are cautioned that the foregoing list of factors is
not exhaustive. All subsequent forward-looking statements, whether written or
oral, attributable to PowerComm Inc. or persons acting on its behalf are
expressly qualified in their entirety by these cautionary statements.
Furthermore, the forward-looking statements contained in this news release are
made as of the date of this news release and PowerComm Inc. does not undertake
any obligation to update publicly or to revise any of the included
forward-looking statements, whether as a result of new information, future
events or otherwise, except as may be required by applicable securities laws.

For further information:

For further information: Wayne R. Rutherford, President and Chief
Executive Officer, or J.D. Snowdon, Executive Vice President, Corporate
Services, at (780) 465-7038, or at info@powercomm.ca

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