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CRS Electronics Lists on TSX Venture Exchange and Opens the Market
Published: TMX Money
Date: 10:10 AM ET, May 27, 2009
Internet Link: Link
WELLAND, ONTARIO, May 27, 2009 (Marketwire via COMTEX) --
CRS Electronics ("CRS"), the operating subsidiary of Podium
Capital Corporation (LED),
an engineer, designer and manufacturer of LED lighting,
today rang the morning bell to begin market trading. CRS's
President and founder Scott Riesebosch along with other
company representatives were excited to meet with senior
members of the TSX Venture Exchange team to celebrate their
new listing in the fast growing clean technology sector.
To further celebrate opening the market, CRS confirmed
that its legal counsel, Gowlings LLP, one of Canada's
largest law firms, is installing 588 of its LED MR16s in its
Toronto office. Gowlings has offices in all major business
and technology centers across Canada - Montreal, Ottawa,
Kanata, Toronto, Hamilton, Waterloo Region, Calgary, and
Vancouver. Internationally, the Firm has an office in
Moscow, serving clients' needs in Russia and the CIS, and in
London, U.K., providing energy, resource and infrastructure
expertise. This installation will mark the most extensive
use of energy efficient LED technology in any law firm in
Canada.
CRS became a public company on Monday, May 25, 2009
through the exchange's Capital Pool Company (CPC) program.
As a result of the qualifying transaction recently
completed, CRS is now a wholly owned subsidiary of Podium
Capital Corp. Podium's only function is carrying on business
as CRS Electronics. A change of name from Podium Capital
Corp. to CRS Electronics will be proposed to shareholders at
a future date. Full details of the qualifying transaction
can be accessed on
www.sedar.com.
About CRS
CRS is a leader in the emerging, rapidly-growing market
of high efficiency light-emitting-diode ("LED"), or, solid
state lighting ("SSL"). The principal activities of CRS
include the development, manufacture and sale, primarily in
North America, of indoor and outdoor lighting such as LED
replacement lamps, LED streetlights, exterior LED warning
lights on school buses, child safety systems for school
buses, contract manufacturing of LED circuit boards and
recently, LED-based space lighting products. The Company
currently sells an LED replacement for the MR16 indoor light
and LED light engines ("replacement lamps") for decorative
streetlights. CRS is a well-established supplier to both the
school bus industry and the LED contract manufacturing
industry, providing a stable and growing revenue source. CRS
plans to be a major supplier of LED light engines for a
variety of applications to be developed by CRS on its own
and in conjunction with its customers.
Certain statements contained in this news release
constitute forward-looking information, future oriented
financial information, or financial outlooks (collectively
"forward-looking information") within the meaning of
Canadian securities laws. Forward-looking information may
relate to this news release and other matters identified in
Podium's public filings, Podium's future outlook and
anticipated events or results and can be identified by
terminology such as "may", "will", "could", "should",
"expect", "plan", "anticipate", "believe", "intend",
"estimate", "projects", "predict", "potential", "continue"
or other similar expressions concerning matters that are not
historical facts and include, but are not limited in any
manner to, those with respect to capital and operating
expenditures, economic conditions, availability of markets
for products, availability to develop and manufacture
products, availability of sufficient financing, receipt of
approvals, satisfaction of escrow requirements, satisfaction
of closing conditions, obtaining debt financing for capital
expenditures, and any and all other timing, development,
operational, financial, economic, legal, regulatory and/or
political factors that may influence future events or
conditions. Such forward-looking statements are based on a
number of material factors and assumptions, including, but
not limited in any manner, those disclosed in any other
Podium filings, and include sufficient working capital for
development and operations, access to adequate services and
supplies, availability of markets for products, commodity
prices, foreign currency exchange rates, interest rates,
access to capital markets and other sources of financing and
associated cost of funds, availability of a qualified work
force, availability of manufacturing equipment, no material
changes to the tax and regulatory regime and the ultimate
ability execute its business plan on economically favorable
terms. While we consider these assumptions to be reasonable
based on information currently available to us, they may
prove to be incorrect. Actual results may vary from such
forward-looking information for a variety of reasons,
including but not limited to risks and uncertainties
disclosed in other Podium filings at
www.sedar.com and other
unforeseen events or circumstances. Other than as required
by law, Podium does not intend, and undertakes no obligation
to update any forward-looking information to reflect, among
other things, new information or future events.
SOURCE: CRS Electronics
CRS Electronics
Debbie Bamforth
Corporate Communications
905-599-3322
debbieb@crselectronics.com
CRS Electronics
Al Hussey
Chief Operating Officer
905-788-9039
ahussey@crselectronics.com
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