Javelin Capital Corp.
TSX VENTURE : JVC

Greystone Research Corp.

June 20, 2005 19:21 ET

Javelin Capital and Greystone Research Announce Mailing of Takeover Offer to Greystone Shareholders

CALGARY, ALBERTA--(CCNMatthews - June 20, 2005) - Javelin Capital Corp. (TSX VENTURE:JVC) ("Javelin") and Greystone Research Corp. ("Greystone") jointly announced today that the Offer to Purchase (the "Offer") all of the common shares of Greystone by Javelin and related Circular (the "Bid Circular") was sent on June 17, 2005 to the shareholders of record of Greystone. Pursuant to the Offer, Javelin will purchase all of the issued and outstanding common shares of Greystone for consideration of 0.285 of a Javelin common share for each common share of Greystone. The Offer has the unanimous support of the boards of directors of Javelin and Greystone. The board of directors of Greystone has concluded that the Offer is in the best interests of the shareholders of Greystone and sent a directors' circular to all shareholders of record of Greystone within which it unanimously recommended that Greystone shareholders tender their shares to the Offer. The Offer is subject to certain conditions, including the deposit of not less than 66 2/3% of the outstanding common shares of Greystone (on a fully diluted basis). Directors, officers and certain shareholders representing approximately 62.5% of the issued and outstanding shares of Greystone have entered into lockup agreements pursuant to which they have agreed, among other things, to tender all of their respective shares to the Offer and to have all of their options to acquire Greystone shares cancelled.

Javelin's Offer and the Bid Circular should be received by the shareholders of Greystone this week. Shareholders may tender their shares to the Offer up to 4:30 p.m. (Calgary time) on July 22, 2005.

Javelin Capital Corp.

5,328,334 Common Shares


Greystone Research Corp.

4,117,500 Common Shares

The TSX Venture Exchange 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
    Greystone Research Corp.
    Warren Dowd
    President
    (403) 233-9370
    (403) 265-9334 (FAX)
    or
    Javelin Capital Corp.
    5089 Westminster Avenue
    Ladner, BC V4K 2J1
    or
    Greystone Research Corp.
    300, 714 - 1 Street SE
    Calgary, Alberta T2G 2G8