Crossfield Capital Corp.

Crossfield Capital Corp.

February 25, 2005 12:48 ET

Crossfield Capital Corp.: Press Release


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: CROSSFIELD CAPITAL CORP.

TSX VENTURE SYMBOL: CXF.P

FEBRUARY 25, 2005 - 12:48 ET

Crossfield Capital Corp.: Press Release

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 25, 2005) - Crossfield
Capital Corp. (TSX VENTURE:CXF.P)

(Not for Dissemination to the US or to US Newswire Services)

Crossfield Capital Corp. (TSX VENTURE:CXF.P) (the "Corporation")
announced today that the TSX Venture Exchange (the "TSXV") has issued
its final acceptance for the Corporation's acquisition (the
"Acquisition") of all of the issued and outstanding securities of WAM
Industries Ltd. ("WAM") and Logan Metals Inc. ("Logan") (collectively,
WAM and Logan are the "Targets"). The Corporation issued an aggregate of
29,295,750 common shares in the capital of the Corporation to the
holders of common shares in the capital of WAM and Logan and issued
4,667,250 common share purchase warrants ("Crossfield Warrant") of the
Corporation to holders of common share purchase warrants of Logan. Each
Crossfield Warrant is exercisable until February 9, 2007 at an exercise
price of $1.00 per share. The Acquisition comprises the "Qualifying
Transaction" of the Corporation for the purposes of Policy 2.4 of the
TSXV.

As previously disclosed, the board of directors of the Corporation
consists of William Iannaci, Joseph Mimran, Gregory Van Staveren and A.
Murray Sinclair. In addition, as a result of the transaction, William
Iannaci has been appointed President and Chief Executive Officer of the
Corporation, Joseph Mimran has been appointed Chairman of the board of
directors of the Corporation and Niral V. Merchant has been appointed
Chief Financial Officer and Secretary of the Corporation.

The Corporation, through its wholly owned operating subsidiaries (WAM
and Logan), intends to operate as a manufacturer of custom made wood and
metal products and will continue to expand its customer base and
revenues through aggressive sales and marketing strategies.

WAM and Logan target 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 of America and
increasingly, various overseas markets. WAM and Logan employ
state-of-the-art industrial technology to fabricate custom and
standardized wood and metal products, including 5 robotic wood finishing
lines and advanced laser-based computer-integrated manufacturing
systems. In addition to contract manufacturing services, WAM and Logan
provide value-added engineering and design services that result in
long-term relationships with customers.

The common shares of the Corporation will resume trading on the TSX
Venture Exchange on February 28, 2005 under the symbol CXF.

This press release is not an offer of securities for sale in the United
States. The securities have not been and will not be registered under
the United States Securities Act of 1933, as amended. Securities may not
be offered or sold in the United States absent registration or an
exemption from registration.


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Crossfield Capital Corp.
    A. Murray Sinclair
    Director
    (604) 689-1428
    Email: sinclair@quest-mail.com
    or
    Crossfield Capital Corp.
    Niral V. Merchant
    Chief Financial Officer
    (416) 679-9474
    Email: nmerchant@wamindustries.ca
    or
    Crossfield Capital Corp.
    Suite 300, 570 Granville Street
    Vancouver, BC V6C 3P1
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.