MONTREAL, Nov. 8 /CNW Telbec/ - Promatek Industries Ltd. ("Promatek")
(TSX symbol PMK), now known as Copitrak Inc. ("Copitrak"), is pleased to
announce that it has completed the privatization of Promatek. In order to
carry out such privatization, Promatek amalgamated (the "Amalgamation") with
6809618 Canada Inc. ("680"), which resulted in the creation of Copitrak. Under
the terms of the Amalgamation, the public shareholders of Promatek received
one preferred share of Copitrak for each common share ("Common Share") they
held in the share capital of Promatek. These preferred shares will in turn be
redeemed automatically for a cash consideration of $2.00 per share.
Shareholders are reminded that in order to receive the cash consideration
to which they are entitled pursuant to the Amalgamation, they must deposit
with Computershare Investor Services Inc. the certificates representing the
Common Shares held by them, together with a duly completed and executed Letter
of Transmittal. Further information concerning this deposit procedure may be
found in Promatek's Management Information Circular dated October 3, 2007,
available at www.sedar.com.
It is anticipated that an application will be filed with the Toronto
Stock Exchange to have the Common Shares delisted. An application will also be
filed with each of the securities regulatory authorities in the provinces of
Alberta, Ontario and Quebec to have the reporting issuer status of Copitrak
revoked in each such province.
About Copitrak Inc.
Copitrak is a design and manufacturing company whose products serve the
professional charge-back market. Copitrak's clients include legal, accounting
and engineering firms that require systems that will automatically capture
expenses related to a client (such as photocopies, faxes, phone calls,
couriers, etc.) and integrate them into the firm's billing system. Copitrak's
products are sold under the Copitrak name through selected exclusive dealers
located in the USA, Canada, Europe and Asia. Copitrak is a registered
trademark of Copitrak.
For further information:
For further information: Mr. Mark Levine, (514) 737-7747,