Crossfield Capital Corp.
TSX VENTURE : CXF

Crossfield Capital Corp.

September 14, 2005 09:30 ET

Crossfield Capital Corp.-Announces Name Change & TSX Listing Conditional Approval

TORONTO, ONTARIO--(CCNMatthews - Sept. 14, 2005) - Crossfield Capital Corp. (TSX VENTURE:CXF) ("Crossfield" or the "Corporation") is pleased to announce that the Corporation has changed its name to Royal Laser Corp. effective September 12, 2005 as approved by the shareholders of the Corporation at its annual general meeing held yesterday.

Furthermore, the Corporation is pleased to announce the appointment of Michael Farrugia to the Board of Directors. Michael brings to the company a number of years of experience as a senior executive of a number of successful manufacturing companies. The Board is now comprised of Joseph Mimran, Bill Iannaci, A. Murray Sinclair, Greg Van Staveren, and Michael Farrugia.

The Corporation also announces that it has received conditional approval from the Toronto Stock Exchange (the "TSX") for the listing of its common shares on the TSX, subject to the Company filing satisfactory final documentation. The Company expects to have these materials to the TSX in short order. The Company will change its ticker symbol accordingly.

Bill Iannaci, Crossfield's Chief Executive Officer commented: "This move to the Toronto Stock Exchange is further evidence of the move from a start-up to a more mature business. Our shorter-term business plan is to fill the expansive capacity that we have created/acquired in the past two years since starting-up. We are on the right path, and our recent financial results show this. Our medium-term business plan is to increase our critical mass, in order to have a stronger foundation from which to grow. In order to accomplish this, our business plan includes the ongoing review of various complimentary acquisitions. We have been, and continue to be in, certain discussions to acquire entities that will facilitate our continued profitable growth & expansion."

For further information and all other public filings, please visit SEDAR at www.sedar.com.

The Corporation, through its wholly owned operating subsidiaries Royal Laser Mfg Inc. and WAM Industries Ltd., manufactures custom wood and metal products and targets the multi-billion dollar high-end retail in-store development industry as well as the OEM industrial products and construction industries, in Canada, the United States and increasingly, overseas. Royal Laser and WAM employ state-of-the-art industrial technology to fabricate custom and standardized wood and metal products, including robotic wood finishing lines and advanced laser-based computer-integrated manufacturing systems. In addition to contract manufacturing services, Royal Laser and WAM provide value-added engineering and design services.

This press release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. When used herein, words such as "intend" and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on assumptions by and information available to the Corporation. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include risks and factors as are detailed from time to time in the Corporation's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. Actual results may differ materially from those currently anticipated. The Corporation has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained herein are expressed qualified by this cautionary statement.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Crossfield Capital Corp.
    Bill Iannaci
    Chief Executive Officer
    (416) 679-9474
    biannaci@royallaser.com
    or
    Crossfield Capital Corp.
    Niral V. Merchant
    Chief Financial Officer
    (416) 679-9474
    nmerchant@royallaser.com
    or
    Crossfield Capital Corp.
    25 Claireville Drive
    Toronto, Ontario, M9W 5Z7