Javelin Capital Corp.
TSX VENTURE : JVC

Greystone Research Corp.

August 05, 2005 13:22 ET

Javelin Capital Announces Successful Completion of Takeover Bid

CALGARY, ALBERTA--(CCNMatthews - Aug. 5, 2005) - Javelin Capital Corp. (TSX VENTURE:JVC) ("Javelin") and Greystone Research Corp. ("Greystone") are pleased to announce that 3,775,650 common shares of Greystone (the "Greystone Shares"), representing 91.70% of the issued and outstanding Greystone Shares, have been tendered to Javelin's offer to purchase (the "Offer") all of the issued and outstanding Greystone Shares. Javelin has directed the Depositary, Olympia Trust Company, to take-up the Greystone Shares deposited under the Offer on July 29, 2005. Under the Offer, holders of Greystone Shares are entitled to receive 0.285 of a common share of Javelin (the "Javelin Shares") for each Greystone Share tendered to the Offer. Javelin issued 1,076,062 Javelin Shares on August 4, 2005 to Greystone Shareholders in consideration of the Greystone Shares taken-up to date. As the Offer was accepted by holders of greater than 90% of the Greystone Shares, Javelin will take steps to acquire the remainder for the Greystone Shares pursuant to the compulsory acquisition provisions contained in the Business Corporations Act (Alberta).

As part of the Offer, 745,988 Javelin Shares issued to former officers, directors and insiders of Greystone will be held in escrow pursuant to a Successor Escrow Agreement. The Javelin Shares held pursuant to the Escrow Agreement may be released in accordance with the terms of that agreement provided that proper documents are submitted and approved by the TSX Venture Exchange (the "TSXV"), including consents by at least 50% of the Greystone Shareholders who are not insiders and founders of Greystone. The consents relate to the non-cancellation of 2,617,500 of the Greystone Shares held by insiders and founders of Greystone.

Javelin recently completed its Qualifying Transaction as an exploration company with properties in British Columbia. Javelin's common shares trade on the Exchange under the symbol "JVC".

READER ADVISORY

This information release may contain certain forward-looking information. Actual future results may differ materially from those contemplated. The risks, uncertainties and other factors that could influence the actual results are described in documents filed with regulatory authorities.

Javelin Capital Corp. 6,404,396 Common Shares

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

Contact Information

  • Javelin Capital Corp.
    David Gallen
    President
    (604) 946-0707
    (604) 940-8914 (FAX)
    or
    Javelin Capital Corp.
    5089 Westminster Avenue
    Ladner, BC V4K 2J1
    or
    Greystone Research Corp.
    Warren Dowd
    President
    (403) 233-9370
    (403) 265-9334 (FAX)
    or
    Greystone Research Corp.
    300, 714 - 1st Street SE
    Calgary, Alberta T2G 2G8