Gemini Corporation

Gemini Corporation

January 11, 2005 09:30 ET

Gemini Corporation Announces Proposed Acquisition


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: GEMINI CORPORATION

TSX VENTURE SYMBOL: GKX

JANUARY 11, 2005 - 09:30 ET

Gemini Corporation Announces Proposed Acquisition

CALGARY, ALBERTA--(CCNMatthews - Jan. 11, 2005) - Gemini Corporation
(TSX VENTURE:GKX) is pleased to announce that it has entered into a
letter of intent to acquire certain of the assets, and the right to
continue with the business, of Lyle Carey Enterprises Ltd., based in
Fort Saskatchewan, Alberta. The transaction remains subject to due
diligence, the execution of a definitive purchase and sale agreement and
certain other conditions precedent, which Gemini expects will be
completed in less than 30 days. Gemini expects the acquisition to close
on or about March 7, 2005.

Lyle Carey Enterprises provides plant maintenance and shutdown services
to its customers, who operate in a number of industrial markets,
including petro-chemical, metal processing, fertilizer and liquid
natural gas processing. This acquisition will compliment Gemini's recent
strategic move toward providing plant maintenance and shutdown services
to its clients. It is Gemini's intention to retain the staff of the Lyle
Carey operation and to continue to provide uninterrupted service to the
existing Lyle Carey clients. Gemini expects the acquisition to result in
additional revenues approximately equal to 20% of Gemini's total
operations.

Gemini is also very pleased to report that the Corporation has been
ranked as one of Alberta's fastest growing companies in Alberta Venture
Magazine's annual listing. Of the twenty-five companies listed with
revenues over $20 million, Gemini placed 15th in terms of overall
growth, 9th in R&D spending and 3rd in terms of net income. This
achievement is due in large measure to the efforts of all staff members,
and it is also a reflection of the quality of the services provided.

Gemini Corporation is a growth oriented company providing engineered
solutions through a variety of interrelated services including project
management, fabrication, construction, maintenance, environmental and
operating services, in Canada and internationally. Gemini is a leader in
providing cost effective solutions to its clients. Gemini currently has
31 million shares outstanding and is listed on the TSX Venture Exchange
under the symbol GKX.

Statements in this release which describe Gemini's intentions,
expectations or predictions, or which relate to matters that are not
historical facts are forward-looking statements. These forward-looking
statements involve known and unknown risks and uncertainties which may
cause the actual results, performances or achievements of Gemini to be
materially different from any future results, performances or
achievements expressed in or implied by such forward-looking statements.
Gemini may update or revise any forward-looking statements, whether as a
result of new information, future events or changing market and business
conditions.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Gemini Corporation
    Carl Johnson
    President and Chief Executive Officer
    (403) 259-0301
    or
    Gemini Corporation
    Marlene Quiring
    VP and Controller
    (403) 259-0348
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.