TORONTO, Feb. 12 /CNW/ - Luxell Technologies Inc. (TSX:LUX) - On 7 January 2009, Luxell Technologies Inc. ("Luxell") announced that it was recommending to its shareholders the acceptance of an offer to purchase all of the issued and outstanding common shares of Luxell (the "Offer") from LUX Acquisition Corporation ("LAC"). The Offer was comprised of consideration in the form of an unsecured promissory note issued by LAC in the principal amount of CDN$0.10 per share taken up under the Offer and due on the third anniversary of the closing of the bid (the "Notes").
Luxell announces that a directors' circular (the "Directors' Circular") containing details of the Offer is being mailed to Luxell Shareholders today. An offer document (the "Offer Document") has already been issued by LAC containing information on LAC and the full terms and conditions of the LAC Offer.
The Directors' Circular and the Offer Document will also be available on Luxell's website (www.luxell.com) and on SEDAR (www.sedar.com).
About Luxell
Luxell designs, manufactures and licenses flat panel display technologies and solutions for the defense and aerospace industries. More information can be found at www.luxell.com. Luxell Technologies Inc., Luxell and Black Layer are trademarks of Luxell Technologies Inc. All other company and/or product names are trademarks and/or registered trademarks of their respective manufacturers.
Forward-Looking Statements
This news release contains certain "forward-looking statements" that reflect the current views and/or expectations of Luxell Technologies Inc. with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.
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