MONA-Great News Out

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MonArc Corporation (MONA:PK) Industrial Manufacturer Inventory Purchase

Friday , January 02, 2009 07:30ET

MONTREAL, Jan. 2 /PRNewswire-FirstCall/ - MonArc Corporation (MONA.PK) Further to the announcement of December 22 2008 where amongst other things the company announced that it has signed a letter of intent to acquire a small North American industrial manufacturing facility, the company has finalized its terms with the bank and the principals of ITI for the purchase of all inventory and debt settlement on all cash basis. The company will make this itemized inventory list as part of its Pink sheets filings.

The company intends to send a representative to ITI on or before January 6, 2009 to do a complete inventory count and a final check and to settle the distress asset sale with the bank, the secured creditor. Soon after ITI will become an operating subsidiary of MONA.

Mr. Sam Grinfield who acted as an agent for ITI as its exclusive agent and who is a CEO of his own consulting firm in Montreal said, "This has got to be a deal of the century for MONA and its shareholders. While no one can argue that the current economic downturn has created an opportunity for those in liquid position such as MONA, this deal is simply over the top. To say that MonArc is acquiring these assets at a fraction of the price is an understatement. ITI has clients, revenues audited statements and all the ingredients sought after by investors. I can see how MONA is slowly building a small conglomerate as both I and ITI management were impressed. ITI soon to be part of MONA is equally impressed with this small robust and forward looking company and its management."

Mona is acquiring the assets and the entire manufacturing company (ITI).


Safe Harbour statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.


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