Juno Capital Corp.
NEX BOARD : JNO.H

January 02, 2007 08:30 ET

Juno Capital Corp. Announces Mailing Information Circular and Takeover Bid Circular

CALGARY, ALBERTA--(CCNMatthews - Jan. 2, 2007) -

(Not for dissemination in the United States)

Juno Capital Corp. (NEX BOARD:JNO.H) ("Juno"), a capital pool company listed on the NEX board of the TSX Venture Exchange, is pleased to announce that it has completed the mailing of its information circular for its annual and special meeting to approve, inter alia, its previously announced qualifying transaction with North Peace Energy Inc. ("North Peace"). The meeting of Juno shareholders is scheduled to occur on January 24, 2007 at 11:30 a.m. In addition, Juno is pleased to announce that it has mailed on December 27, 2006 its take-over bid circular in respect of its offer to acquire all of the outstanding shares of North Peace, which offer will expire on February 1st, 2007. In addition, the director's circular of North Peace, which recommends approval of the offer by Juno to the North Peace shareholders has also been mailed on December 27, 2006.

North Peace is a start up oil and gas exploration company incorporated in Alberta with its principal asset being approximately 60,480 net acres (86,400 gross) of prospective oil sands leases in north central Alberta. North Peace has no producing oil and gas properties and has only recently commenced drilling operations.

The closing of the qualifying transaction is subject to a number of conditions, including: (i) receipt of all requisite regulatory approvals, including approval of the TSX Venture Exchange; and (ii) requisite shareholder approval.

The qualifying transaction with North Peace constitutes a "reverse takeover" as such term is defined in Policy 5.2 of the TSX Venture Exchange. The common shares of Juno are currently halted at the Company's request until the completion of the qualifying transaction and receipt by the TSX Venture Exchange of all requisite documentation in connection therewith. Upon completion of the qualifying transaction, Juno and North Peace will amalgamate and the resulting issuer, to be named "North Peace Energy Corp.", anticipates that its common shares will trade on the TSX Venture Exchange under the symbol "NPE."

Completion of the transaction is subject to a number of conditions, including Exchange acceptance and disinterested Shareholder approval. The transaction cannot close until the required Shareholder approval is obtained. There can be no assurances that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the Information Circular mailed in connection with the transaction, any information released or received with respect to the transaction may be not accurate or complete and should not be relied upon. Trading in the securities of Juno Capital Corp. should be considered highly speculative.

The TSX Venture Exchange has in no way passed upon the merits of the qualifying transaction and has neither approved nor disapproved the contents of this press release.

Contact Information

  • Juno Capital Corp.
    Louis R. Dufresne
    President
    (403) 262-6024
    (403) 262-6072 (FAX)