SOURCE: Argo Navigation Inc.

October 12, 2007 10:12 ET

Argo Navigation Would Like to Announce That Its Acquisition by Media City Corp. (mccy.pk) Has Been Completed

ANAHEIM, CA--(Marketwire - October 12, 2007) - Argo Navigation Inc. (www.argonav.com)

Argo Navigation would like to announce that its acquisition by Effective Control Transport / Media City Corp. (PINKSHEETS: MCCY) has been completed. This acquisition builds on the relationship Effective Control Transport and Argo Navigation have formerly established, and will accelerate Effective Control Transport's product delivery within the transportation industry. It represents a major step forward to the culmination of a company-wide effort to deliver a unified fleet management solution.

Jason Shin, President and CEO of Argo Navigation, will remain active as Vice President of Research and Development with Effective Control Transport.

"We are very pleased with this acquisition and feel the business model and technology base that Effective Control Transport has developed will be exceptionally advantageous to Argo Navigation and its shareholders. We are all remarkably excited about moving our business forward as Effective Control Transport," said Mr. Jason Shin.

All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.

A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.

Contact Information

  • Contact:
    Jason Shin
    President and CEO Argo Navigation Inc.
    714.502.6900