PAKIT Inc.

PAKIT Inc.

September 30, 2009 09:30 ET

PAKIT™ Inc. Announces $5 Million Financing by Fairfax

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 30, 2009) - PAKIT Inc., a leading clean technology company that has developed a patented, industry-changing disruptive technology, today announced it has completed a $5 million financing with Fairfax Financial Holdings Limited (TSX:FFH)(NYSE:FFH).

The $5 million investment will enable PAKIT to expand its production capacity to meet equipment orders in the pipeline.

"The agreement with Fairfax strengthens our ability to accelerate PAKIT's emergence as the dominant global provider of sustainable technology for producing renewable, compostable and recyclable consumer product packaging," said Brian Birmingham, PAKIT Inc.'s President and CEO.

About PAKIT:

PAKIT Inc. develops disruptive technology that enables the production of renewable, compostable and recyclable packaging for consumer products on equipment that operates sustainably, using minimal water, locally available, renewable feedstocks, and non-fossil fuel based energy, while producing no emissions or effluents. PAKIT is headquartered in Vancouver, Canada, with research and development conducted in Norrkoping, Sweden. www.pakitinc.com.

Contact Information