Active Control Acquires PowerCart Systems Inc.
2011年8月23日 - 9:00PM
Marketwired
Active Control Technology Inc. (TSX VENTURE: ACT) ("Active" or the
"Company"), a leading provider in the design, manufacture and
marketing of both wireless and fiber network solutions for mine
communications, and the commercial security and access control
industries, announced today that, further to its press release of
August 12, 2011, it has closed the acquisition of all of the issued
and outstanding shares of PowerCart Systems Inc. ("PowerCart").
Pursuant to the terms of the share purchase agreement, on
closing, two nominees of PowerCart, Jonathan Emanuel and Esther
Schwartz, were appointed directors of Active. The board of
directors was increased by one and Paul Jaggard resigned as a
director to accommodate the appointment of the PowerCart nominees.
Mr. Jaggard used the opportunity of the PowerCart transaction to
resign from the board due to the time commitments of his primary
endeavours. On behalf of the board, Michael Abbene, Chairman of
Active, wished to express his thanks to Paul Jaggard for his
services to the Company as Chairman of the Audit Committee. The
board of directors is currently comprised of Michael Abbene, Doug
Barre, Graham Warren, Steve Barrett, William R. Johnstone, Jonathan
Emanuel and Esther Schwartz.
Jonathan Emanuel has been the CEO of PowerCart since 2008 and
during this period has grown both the margins and revenues. Prior
to PowerCart, Jonathan worked on the successful restructuring and
sale of a technology company for one of the leading merchant banks
in Toronto. Prior to this, Jonathan worked in technology companies
involved with software development and/or consulting. During this
period he was involved in multiple transactions either integrating,
acquiring or selling companies. Jonathan has held a number of
senior positions including CFO, CIO and CEO.
Esther Schwartz joined PowerCart as CFO in the fall of 2010. She
has been involved in finance and operations for over 25 years. Over
that time, Ms. Schwartz has held senior management positions in
technology companies and project management firms. She co-founded a
project management solutions company that provided recruitment and
placement services and resource optimization systems for Canada's
FP1000 companies. Profitable since inception, the company employed
more than 20 professionals and was sold in its fifth year.
"We are very pleased to have closed this transaction and look
forward to integrating our operations and realizing on the
tremendous synergies and business opportunities" said Graham
Warren, Active's CEO. Jonathan Emanuel, PowerCart's CEO commented:
"Bringing the two companies together creates a platform for
increased margins while allowing technological and revenue
growth."
As a result of the consolidation as detailed in the Company's
press release of August 17, 2011 and the acquisition of PowerCart,
the Company currently has 17,504,592 common shares issued and
outstanding.
About PowerCart
PowerCart is the original industry founder of mobile power
solutions with a legendary reputation for reliability and on-time
delivery with over 30,000 units sold. PowerCart continues to lead
the industry in design and innovation, for solutions requiring
backup and mobile power. PowerCart offers all of its solutions in
the retail, warehousing, courier and mining sectors with a
bumper-to-bumper one year warranty - the best in the industry.
PowerCart has locations in Mississauga, Ontario, Canada, and
Medina, Ohio, USA. For more information, visit
www.powercart.com.
About Active Control Technology
Active Control Technology is involved in the design, manufacture
and marketing of both wireless and fiber network solutions for mine
communications, and the commercial security and access control
industries. The Company has two product lines: ActiveMine™, a fully
integrated wireless and/or fiber communications and locating
technology for underground coal mines, and ActiveSecure™, a family
of wireless products for the access control industry. Located in
Burlington, Ontario, Canada, Active Control Technology trades
publicly on the TSX Venture Exchange under the symbol ACT. For more
information, visit www.activecontrol.com.
Get more out of your mine.™
Cautionary Note Regarding Forward-Looking Statements: This press
release contains forward-looking statements that involve risks and
uncertainties, which may cause actual results to differ materially
from the statements made. When used in this document, the words
"may", "would", "could", "will", "intend", "plan", "anticipate",
"believe", "estimate", "expect" and similar expressions are
intended to identify forward-looking statements. Such statements
reflect our current views with respect to future events and, as
such, are subject to risks and uncertainties. Many factors could
cause our actual results to differ materially from the statements
made, including those factors discussed in filings made by us with
the Canadian securities regulatory authorities. Should one or more
of these risks and uncertainties, such as changes in demand for and
prices for the products of the Company or the materials required to
produce those products, labour relations problems, currency and
interest rate fluctuations, increased competition and general
economic and market factors, occur or should assumptions underlying
the forward looking statements prove incorrect, actual results may
vary materially from those described herein as intended, planned,
anticipated, or expected. We do not intend and do not assume any
obligation to update these forward-looking statements, except as
required by law. The reader is cautioned not to put undue reliance
on such forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Active Control Technology Graham Warren President
& CEO 905-670-5500 gwarren@activecontrol.com
www.activecontrol.com PowerCart Systems Inc. Jonathan Emanuel
President & CEO 905-364-0050 jemanuel@powercart.com
www.powercart.com
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