CRS Electronics

CRS Electronics

August 06, 2015 09:17 ET

CRS Electronics Engages Phoenix Corporate Finance to Undertake Strategic Acquisition Plan

TORONTO, ONTARIO--(Marketwired - Aug. 6, 2015) - CRS Electronics Inc. ("CRS" or the "Company"), (TSX VENTURE:LED), a developer and manufacturer of LED lighting products, announces it has formally engaged Phoenix Corporate Finance Inc. ("Phoenix"), to act as its financial advisor to negotiate and provide the necessary funding to pursue strategic acquisition transactions.

Under the terms of the agreement, Phoenix will assist and advise the Company on strategic acquisition opportunities, facilitate required financing, and explore strategic options to enhance shareholder value.

"We are excited to leverage Phoenix's acquisition negotiation and financing expertise in our quest to undertake a consolidation of smaller players in our highly fragmented industry sector. My team and I are looking forward to creating shareholder wealth through achieving higher revenues and capturing synergies of select industry companies." said Travis Jones, President and Chief Executive Officer of CRS.

Ted Korn, Senior Vice-President of Phoenix states "The LED manufacturing and distribution market in North America is overpopulated and is ripe for an acquisition and consolidation strategy. There is a series of acquisition opportunities of companies providing the higher margin products of custom and architectural LED lighting products."

About CRS

CRS Electronics Inc. (TSX VENTURE:LED) is a leader in the emerging, rapidly growing market of high efficiency light emitting diode ("LED"), or, solid-state lighting ("SSL"). The principal activities of CRS Electronics include the development, manufacture and sale, primarily in North America, of indoor lighting products such as LED replacement lamps, exterior LED warning lights for school buses, child safety systems for school buses, LED architectural lighting fixtures, and contract manufacturing of LED circuit boards. As an innovator of LED solutions since 1998, CRS Electronics Inc. continues to expand its product portfolio and market presence with business partners and customers. KVIC Lighting™ and Lumenova™ are two product lines that exemplify CRS Electronics Inc. commitment of expansion.

About Phoenix

Phoenix Corporate Finance Inc. is a full service corporate finance firm. Phoenix specializes in providing secondary and alternative financing options to smaller Canadian corporations. Phoenix Corporate Finance Inc. provides advisory, negotiation, and financing facilitation services to companies in all business stages from financially challenged to progressive growth companies in most industry sectors.

Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. Certain statements contained in this news release constitute forward- looking information within the meaning of Canadian securities laws which can be identified by terminology such as "may", "will", "could", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "projects", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Such forward- looking statements are based on a number of material factors and assumptions, including, but not limited in any manner, those disclosed in any other CRS filings, and include availability of sufficient working capital for development and operations, availability of a qualified work force, availability of manufacturing equipment and the ultimate ability execute its business plan on economically favourable terms. While we consider these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect. Actual results may vary from such forward-looking information for a variety of reasons, including but not limited to risks and uncertainties disclosed in other CRS filings at and other unforeseen events or circumstances. Other than as required by law, CRS does not intend, and undertakes no obligation to update any forward-looking information to reflect, among other things, new information or future events.