CRS Electronics

CRS Electronics
Podium Capital Corporation

May 21, 2009 15:03 ET

Scott Riesebosch Acquires Shares of Podium Capital Corporation

TORONTO, ONTARIO--(Marketwire - May 21, 2009) - Scott Riesebosch, c/o CRS Electronics, 129 Hagar Street, Unit #5, Welland, Ontario L3B 5V9, announces that on May 20, 2009, he acquired ownership of 12,619,420 common shares of Podium Capital Corporation ("Podium") in a share exchange transaction between Podium and all former shareholders of 3542114 Canada Inc. operating as CRS Electronics ("CRS"), which transaction constituted Podium's Qualifying Transaction as defined in and pursuant to the policies of the TSX Venture Exchange (the "Exchange"). Further information on the Qualifying Transaction is set out in Podium's filing statement dated May 8, 2009 available on SEDAR at www.sedar.com.

Pursuant to the terms of the Qualifying Transaction, Mr. Riesebosch exchanged 29,333,333 common shares of CRS that he owned for 12,619,420 common shares of Podium. Mr. Riesebosch now owns 12,619,420 common shares of Podium, representing approximately 53.9% of the issued and outstanding common shares of Podium after the completion of the Qualifying Transaction. 1,261,942 common shares of Podium owned by Mr. Riesebosch are subject to certain escrow conditions under the terms of the Qualifying Transaction and will be either (i) released, in whole or in part, or (ii) returned to Podium for cancellation. 11,357,478 common shares of Podium owned by Mr. Riesebosch are subject to surplus security escrow pursuant to the policies of the Exchange.

The common shares of Podium were acquired for investment purposes. Mr. Riesebosch may increase or decrease his position in Podium in the future as considered appropriate in light of investment criteria, market conditions and other factors and in accordance with applicable securities legislation. An early warning report with additional information in respect of the acquisition will be filed on and can be obtained from SEDAR at www.sedar.com or from Alan Hussey c/o CRS Electronics at (905) 788-9039 ext. 224.

Contact Information

  • CRS Electronics
    (905) 788-9039