Maxxcapp Corporation
TSX VENTURE : MXP

Maxxcapp Corporation

September 28, 2005 20:18 ET

Maxxcapp Enters into Management Agreement

ABBOTSFORD, BRITISH COLUMBIA--(CCNMatthews - Sept. 28, 2005) - Maxxcapp Corporation's (TSX VENTURE:MXP) President & CEO, L. Evan Baergen, announces that the Company's wholly owned subsidiary, Strydon Holdings Inc., has entered into a management agreement with a related affiliate of ComPrint, a printer sales and support company operating in Calgary, AB. The agreement calls for 49% of earnings before taxes to be paid to the management company. In addition, Maxxcapp has granted the management company an option to purchase 49% of Strydon's outstanding share capital for $300,000 and a second option to purchase the remaining 51% of the outstanding share capital for the greater of $1,000,000 or twice the earnings before taxes of the previous 12 months. The options expire on December 31, 2010.

Strydon operates as Accurate InfoSystems, a provider of office equipment sales and service, and as Maxim Internet Services, which provides IT related services such as office networking and internet connectivity.

Maxxcapp Corporation is a publicly held Canadian company building its assets through the acquisition and development of companies in several rapidly growing industries including technology and home renovation. With a strong management team of experienced, visionary entrepreneurs and corporate finance professionals, Maxxcapp is quickly building value for its shareholders by increasing efficiencies and providing capital to expand product lines and services as well as enter new markets.


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

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