Lux Acquisition Corporation Announces Successful Offer and Intention to Proceed With Subsequent Acquisition Transaction For Luxell

About this update from Newlox Gold Ventures Corp.

[{"type":"text","content":"\n\n\n\nTORONTO, Feb. 26 /CNW/ - Luxell Technologies Inc. ("Luxell") (TSX:LUX)\nand Lux Acquisition Corporation ("LAC") jointly announced today that\n103,760,581 common shares of Luxell were validly deposited pursuant to LAC's\noffer dated January 15, 2009 to acquire all of the outstanding common shares\nof Luxell (the "Offer") as of 5:00 p.m. (Toronto time) on February 20, 2009,\nthe expiry time for the Offer. The shares deposited pursuant to the Offer\nrepresent approximately 76.83% of the outstanding shares of Luxell not already\nowned by LAC.\n\n\nAs the minimum deposit condition under the Offer has been met, LAC has\ntaken up and accepted for payment all of the shares validly deposited. LAC and\nits affiliates now own 104,281,414 shares of Luxell or approximately 77.22% of\nthe outstanding shares of Luxell. Payment will be made to Luxell shareholders\nwho have validly deposited their shares under the Offer by Equity Transfer &\nTrust Company, the depository, on or before March 3, 2009 through the issuance\nof notes of LAC as described in the Offer.\n\n\nLAC also announced today that it plans to requisition a shareholders'\nmeeting of Luxell as soon as practicable to approve a Subsequent Acquisition\nTransaction as described in the Take-Over Bid Circular dated January 15, 2009\nto enable LAC to acquire the remainder of the shares not tendered pursuant to\nthe Offer.\n\n\nBoth the insider bid circular and the directors circular are available\nthrough SEDAR at www.sedar.com.\n\n\nAbout Luxell\n\n\nLuxell designs, manufactures and licenses flat panel display technologies\nand solutions for the defense and aerospace industries. More information can\nbe found at www.luxell.com. Luxell Technologies Inc., Luxell and Black Layer\nare trademarks of Luxell Technologies Inc. All other company and/or product\nnames are trademarks and/or registered trademarks of their respective\nmanufacturers.\n\n\n%SEDAR: 00008266E\n\n\n","length":2025,"tagName":"div"}]

More updates from Newlox Gold Ventures Corp.