CORRECTION FROM SOURCE: Latest In Electric Mobility Leads to Growth of Canadian Manufacturing for Export

TORONTO, ONTARIO--(Marketwire - Sept. 27, 2011) -

This document corrects and replaces the press release that was sent today September 27 at 12:00 pm ET. The error occurred in the Editor's note at the bottom of the release. The time for the unveiling of the B-Roll footage should have said 6:15 – 6:30 p.m. Eastern, rather than 4:30 - 4:45 that was in the original release. Also part of the Editor's note, Galaxy 17 T13 Slot A replaces Galaxy 17 K13 Slot A.

A photo for this release will be available via Marketwire on the picture wire of The Canadian Press.

BionX International, a pioneering electric propulsion company established by former Magna Vice Chairman Manfred Gingl and backed by Magna founder Frank Stronach in a strategic alliance with Magna International, has unveiled the revolutionary SeaScape 12 watercraft on Lake Ontario.

The SeaScape 12, which combines technology and human power, utilizes the same proven, Canada-designed and manufactured electric-drive train technology that has made Aurora, Ontario based BionX, a world leader in e-bike propulsion systems.

"Today the BionX system provides added range and speed to hundreds of thousands of bicycle riders around the world and that same technology is now on the water powering our unique leisure craft," said Manfred Gingl, the BionX CEO and former Magna International Vice Chairman. "At its heart Magna is a power train manufacturer and we expect BionX to have similar success in the field of electric drive trains."

Designed and manufactured in Canada to the same exacting standards of performance, reliability and safety as the Canadian-built BionX e-bike system, SeaScape 12 intelligently combines pedal power with electricity for efficient transportation on the water.

The 12-foot watercraft seats up to two adults and two children and its electric support allows it to silently reach a maximum sustained speed of 8.1 km per hour for as long as 4 hours, on a medium support level, which greatly increases the range of the SeaScape 12 compared with human powered watercraft.

"Nothing like the SeaScape 12 exists on the water today and we expect it to carve out a share of the $4.2 billion Canadians spend on recreational fishing, personal watercraft and human powered boating every year," said Paul Gingl, BionX's Vice-President of Marine Products. "Our research indicates the SeaScape 12 sits in the sweet spot between human powered craft like kayaks, canoes and traditional pedal-boats and combustion-powered watercraft."

The combination of pedal power and electricity means the SeaScape 12 is cost effective to run, low on maintenance and it is sustainable. Two 12 volt batteries provide 250 watts of power to supplement the power provided by the boat's occupants.

Initial availability of the SeaScape 12 will be limited to just 1,000 units in 2012 priced at $5,999 CAD/US. Currently assembled in their Austrian BionX facility in Europe where it has attracted significant orders and extremely positive reviews, the SeaScape 12 will eventually be built in the Aurora plant where the BionX e-bike system is assembled.

BionX International Corporation is presently in the process of signing new dealers across North America.

About BionX International Corporation

BionX makes lightweight, efficient and flexible propulsion systems for electrically assisted leisure craft. Each BionX system contains three components: a control panel; LiMn battery unit; and a motor wheel. Research and development for BionX products happens at the international head office in Aurora, Canada. Innovative ideas and designs are created using the best practices of Magna International which focus on safety, quality and productivity in manufacturing. The company aims to create new designs that will empower people to move forward in an efficient, clean and sustainable fashion. Visit www.bionxinternational.com for more information.

Editor's Note: B-roll footage of the unveiling will be available via satellite on Tuesday, September 27th at 6:15 – 6:30 p.m. Eastern.

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