Growthgen Equity Inc.
TSX VENTURE : GGQ.P

March 19, 2007 09:42 ET

Growthgen Equity Inc. Engages Blackmont Capital Inc. as Financial Advisor

OTTAWA--(CCNMatthews - March 19, 2007) - Growthgen Equity Inc. (TSX-V: GGQ.P) ("Growthgen") today announced that it has engaged Blackmont Capital Inc ("BCI") as its financial advisor for strategic acquisitions and agent to raise equity or debt in connection with any of these acquisitions.

The engagement letter entered into between Growthgen and BCI does not represent an offer or binding commitment by BCI to underwrite any debt or equity offering or purchase any securities of Growthgen. It establishes a framework upon which BCI will assist Growthgen, by acting as its agent, to review and advise on the desirability of completing any such offerings, advise as to the timing and structure thereof and assist in completing any such offerings on a best-effort basis. The detailed terms of any debt or equity offering resulting from the engagement of BCI will be announced if and when such terms are determined.

The engagement of BCI follows the recent announcement by Growthgen of its acquisition of Process Photonics Inc. ("Process Photonics"), a supplier of custom and standard laser-based material processing systems for printed circuit boards, electronics assembly and medical device industries. A filing statement describing Growthgen, Process Photonics and the terms of the acquisition is available to view at www.sedar.com.

"We look forward to adding BCI to our team of trusted partners to identify and assist with financing strategic acquisitions," said Donald Gibbs, CEO of Growthgen. "Process Photonics will form the foundation of future initiatives to enhance shareholder value."

About Growthgen

Growthgen was originally listed on the TSX Venture Exchange in 2006 as a capital pool company. Growthgen completed its "qualifying transaction" and ceased to be a capital pool company following the successful acquisition of all of the issued and outstanding securities of Process Photonics in March 2007.

About Process Photonics

Process Photonics is a wholly owned operating subsidiary of Growthgen. Process Photonics was founded as a partnership in 2002, was later incorporated as a Canadian corporation under the Canada Business Corporations Act on March 18, 2003 and was acquired by Growthgen in March of 2007. Process Photonics is a supplier of custom and standard, laser-based, material processing systems for printed circuit board, electronics assembly and medical device industries.

For more information about Growthgen, Process Photonics or Growthgen's acquisition of Process Photonics please refer to the filing statement on www.sedar.com dated February 28, 2007.

Forward-Looking Statements

This news release contains forward-looking information. These statements relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management of Growthgen Equity Inc. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. These forward-looking statements are made as of the date hereof and Growthgen Equity Inc. does not assume any obligation to update or revise them to reflect new events or circumstances. (The TSX-Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.)

THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY SECURITIES.

Contact Information

  • Growthgen Equity Inc.
    Donald Gibbs
    613-236-8359 extension 2013
    or
    Or
    Heather McCulligh
    Hewson Bridge + Smith
    613-797-8949
    or
    Or
    Blackmont Capital Inc.
    Craig King
    Equity Capital Markets
    416-864-2080