TORONTO, June 8 /CNW/ - Luxell Technologies Inc. (TSE:LUX) announced today that its Aktelux business unit has been fully incorporated as a wholly owned subsidiary of Luxell. To support this restructuring, a new Aktelux President has been named, and an Aktelux Board of Directors has been formed. Louis Joubert, Luxell's current COO, has been named President of Aktelux. The new Aktelux Board of Directors will be comprised of Ken Kivenko, who continues to serve the Company in the capacity of Chairman of the Luxell Board of Directors, John Wright, President and CEO of Luxell, and Louis Joubert. "Incorporation of Aktelux as its own business entity will provide greater financial visibility, market and brand recognition to our rapidly growing Aktelux customized flat panel display systems product business. Our experienced management team, broad range of technologies and expanding list of world renowned strategic clients should allow us to outstrip the general growth rate projected for this industry sector", said Aktelux President, Louis Joubert. John Wright added, "The restructuring will afford Aktelux a higher degree of business autonomy and provide Company stakeholders with greater business performance visibility, not only for Aktelux but also for Luxell Research, our other business unit, which is focused on the commercial exploitation of our patented Black Layer(TM) technology." To maintain Luxell's current growth tempo, the Company is adding to its working capital, and has recently secured $1.1M through shareholder/investor loans and advances as an initial stage in this process. About Luxell Technologies Inc. Luxell designs, manufactures and licenses high performance flat panel display technologies and solutions for defence, avionics, and commercial industries worldwide. Luxell is a publicly traded company on the Toronto Stock Exchange, under the symbol LUX. More information can be found at www.luxell.com, www.aktelux.com, and www.luxellresearch.com. %SEDAR: 00008266E