JM Capital Corp.
TSX VENTURE : JMC.P

JM Capital Corp.

November 21, 2008 15:47 ET

JM Capital Corp. Announces Approval of the Qualifying Transaction by Shareholders of Stans Energy Corp.

TORONTO, ONTARIO--(Marketwire - Nov. 21, 2008) - JM Capital Corp. ("JM Capital") (TSX VENTURE:JMC.P) is pleased to announce that the amalgamation of Stans Energy with JM Amalco Corp., a wholly-owned subsidiary of JM Capital, pursuant to the amalgamation agreement (the "Agreement") dated September 30, 2008 (the "Acquisition") has been approved by the shareholders of Stans Energy Corp. ("Stans Energy"). The Acquisition was approved by approximately 82% of the votes cast at the special meeting of shareholders of Stans Energy held yesterday.

The Acquisition will constitute JM Capital's "Qualifying Transaction" as defined in Policy 2.4 of the Exchange Corporate Finance Manual.

JM Capital and Stans Energy expect that the Acquisition will be completed by the end of November. Completion of the Acquisition remains subject to certain conditions, including, TSX Venture Exchange final approval and other conditions customary for transactions of this nature.

For further information regarding the Acquisition please refer to the news releases issued by JM Capital on August 14, 2008, October 7, 2008 and November 7 and 11, 2008, the Agreement and JM Capital's filing statement dated November 7, 2008, all of which are available under JM Capital's profile on SEDAR at www.sedar.com.

There can be no assurance that the Acquisition will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the filing statement prepared in connection with the Acquisition, any information released or received with respect to the Acquisition may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

For further information regarding Stans Energy Corp. visit www.stansenergy.com.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Acquisition and has neither approved nor disapproved the contents of this press release or the same. The TSX Venture Exchange Inc. does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • JM Capital Corp.
    Jay Freeman
    Chief Executive Officer
    (416) 972-6197
    or
    Stans Energy Corp.
    Robert J. Mackay
    President & Chief Executive Officer
    (647) 426-1865
    Website: www.stansenergy.com