Calgary, AB, December 3, 2003
– The
common shares of Cell-Loc Inc. (the "Company") (TSX: CLQ) will remain
halted on the Toronto Stock Exchange (“TSX”) until markets close on
Thursday, December 4, 2003 at which time Cell-Loc will be delisted as a
result of the recently effective Plan of Arrangement (the
"Arrangement") involving the Company, Cell-Loc Location Technologies
Inc. ("CLTI") and Capitol Energy Resources Investment Partnership.
Both
CLTI (TSX-V: LTI) and the Company (TSX-V: CPX) have been conditionally approved
for listing on the TSX Venture Exchange as separate and distinct entities,
subject to the fulfillment of the requirements of the TSX Venture Exchange.
According
to the Letter of Transmittal, the common shares of CLTI and Capitol Energy
Resources will not be distributed to registered shareholders of Cell-Loc as at
the effective date but rather upon receipt of the share certificate of Cell-Loc
together with the Letter of Transmittal.
If
you are a beneficial shareholder of Cell-Loc common shares (ie. your Cell-Loc
common shares are held through a brokerage account), your broker will be
responsible for allocating such shares to you and shall do so in due course. No
further action is required of Cell-Loc’s beneficial shareholders.
All
trades that occurred on the Toronto Stock Exchange on December 3, 2003 will be
cancelled as a result of inaccurate information disseminated this morning.
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Forward Looking Statements: This news release contains certain information that may constitute forward-looking statements under applicable securities laws. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. Actual results achieved may vary from the results anticipated or implied herein and variations may be material. There is no representation by the Company that actual results achieved will be the same in whole or in part as those implied in any forward looking statements.
Neither the TSX nor the TSX Venture Exchange has approved nor disapproved of the contents of this news release.
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For further information respecting the Arrangement or respecting the ongoing technology business, please contact:
Tammy
Yamkowy
Director, Corporate Communications & Investor Relations
Cell-Loc
Location Technologies Inc.
Phone: 403.569.5748