Pan-O-Lac Ltd.

May 19, 2006 16:50 ET

Pan-O-Lac Ltd. Waiting to Receive Ernst & Young Evaluation in Order to Enclose Summary with Takeover Bid for Amisk Inc.

MONTREAL, QUEBEC--(CCNMatthews - May 19, 2006) - In its press release of April 27, 2006 Pan-O-Lac Ltd. announced its intention to make a takeover bid for the purchase of all of the outstanding shares of Amisk Inc. ("Amisk") at a price of $0.40 per share. As Pan-O-Lac already holds 53.8% of the outstanding shares, a valuation report is required to be prepared by an independent firm.

Ernst & Young has been mandated by Amisk to proceed to this valuation, however has not yet produced its report, which is expected to be delivered in the course of the coming week. Pan-O-Lac intends delaying the sending of the takeover bid until next week when it can be sent along with a summary of the valuation.

Contact Information

  • Pan-O-Lac Ltd.
    Jean-Louis Vigneault
    (418) 542-5666
    (418) 542-4046