Cancellation of Remaining Escrowed Shares|
Omni-Lite Industries Canada Inc.
September 21, 2001
CERRITOS, CALIFORNIA. September 21, 2001- Omni-Lite is pleased to announce that it has reached an agreement by which the remaining 500,000 shares held in escrow will be cancelled upon approval from the Canadian Venture Exchange. These shares were held in escrow pursuant to the terms of the agreement for the acquisition of Formed Fast Inc. made Nov. 17, 1997. Upon approval from the CDNX, the company will return the 500,000 shares to the treasury.
Following cancellation of the 500,000 shares, the issued and outstanding capital of the corporation will consist of 9,308,902 common shares. In addition, the company repurchased pursuant to it's normal course issuer bid, 50,000 shares in August 2001 which will be cancelled upon receipt of the share certificates. This will reduce the issued and outstanding capital of the corporation to 9,258,902 shares.
Except for historical information contained herein this document contains forward-looking statements. These statements contain known and unknown risks and uncertainties that may cause the company's actual results or outcomes to be materially different from those anticipated and discussed herein.
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