Seakinetics Corporation

Seakinetics Corporation

May 19, 2009 09:30 ET

Seakinetics Corporation Completes Its Intention to Acquire Controlling Interest in Marketing Concepts International Inc.

TORONTO, ONTARIO--(Marketwire - May 19, 2009) - Seakinetics Corporation (PINKSHEETS:SKTS)(FRANKFURT:M90) ( and Marketing Concepts International Inc. ( have announced that they have finalized an agreement affording Seakinetics Corporation a controlling interest in Marketing Concepts International. Seakinetics will participate in funding initiatives as required to provide additional working capital to Marketing Concepts. These funding infusions are expected to fuel substantial growth in revenues.

Kenneth W Mann, President and CEO, Marketing Concepts International, confirmed that the final agreement provides for an exchange of treasury stock from each Company as follows: Seakinetics, which currently trades on the Open Market segment of the Frankfurt Exchange will deposit into the Marketing Concepts International trust account 160,000 restricted shares of its stock in exchange for a 37.5% interest in Marketing Concepts International. Seakinetics will retain a further option for an additional 15% of treasury stock issued under rule 144 at a discount of 10% to market.

Seakinetics will be appointing one board member to the Board of Directors of Marketing Concepts International within the next 60 days.

Seakinetics was established for the purpose of designing, developing, marketing and investing in innovative technologies and services in the renewable energy field. Seakinetics' mission is to be the best in finding solutions for renewable energy today and for the foreseeable future.

A public offering of Seakinetics shares was not made in connection with their inclusion on the Open Market Frankfurt.

Both Seakinetics Corporation and Marketing Concepts International are listed on the Pink Sheets in the United States.

This release may include projections of future results and "forward-looking statements" as that term is defined in Section 27A of the Securities Act of 1933 as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934 as amended (the "Exchange Act"). All statements that are included in this release, other than statements of historical fact, are forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable; it can give no assurances that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the expectations disclosed in this release, including, without limitation, in conjunction with those forward-looking statements contained in this release.