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ACT

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Share Name Share Symbol Market Type
TSXV:ACT TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Active Control Acquires PowerCart Systems Inc.

23/08/2011 1:00pm

Marketwired Canada


Active Control Technology Inc. (TSX VENTURE:ACT) ("Active" or the "Company"), a
leading provider in the design, manufacture and marketing of both wireless and
fiber network solutions for mine communications, and the commercial security and
access control industries, announced today that, further to its press release of
August 12, 2011, it has closed the acquisition of all of the issued and
outstanding shares of PowerCart Systems Inc. ("PowerCart"). 


Pursuant to the terms of the share purchase agreement, on closing, two nominees
of PowerCart, Jonathan Emanuel and Esther Schwartz, were appointed directors of
Active. The board of directors was increased by one and Paul Jaggard resigned as
a director to accommodate the appointment of the PowerCart nominees. Mr. Jaggard
used the opportunity of the PowerCart transaction to resign from the board due
to the time commitments of his primary endeavours. On behalf of the board,
Michael Abbene, Chairman of Active, wished to express his thanks to Paul Jaggard
for his services to the Company as Chairman of the Audit Committee. The board of
directors is currently comprised of Michael Abbene, Doug Barre, Graham Warren,
Steve Barrett, William R. Johnstone, Jonathan Emanuel and Esther Schwartz. 


Jonathan Emanuel has been the CEO of PowerCart since 2008 and during this period
has grown both the margins and revenues. Prior to PowerCart, Jonathan worked on
the successful restructuring and sale of a technology company for one of the
leading merchant banks in Toronto. Prior to this, Jonathan worked in technology
companies involved with software development and/or consulting. During this
period he was involved in multiple transactions either integrating, acquiring or
selling companies. Jonathan has held a number of senior positions including CFO,
CIO and CEO.


Esther Schwartz joined PowerCart as CFO in the fall of 2010. She has been
involved in finance and operations for over 25 years. Over that time, Ms.
Schwartz has held senior management positions in technology companies and
project management firms. She co-founded a project management solutions company
that provided recruitment and placement services and resource optimization
systems for Canada's FP1000 companies. Profitable since inception, the company
employed more than 20 professionals and was sold in its fifth year.


"We are very pleased to have closed this transaction and look forward to
integrating our operations and realizing on the tremendous synergies and
business opportunities" said Graham Warren, Active's CEO. Jonathan Emanuel,
PowerCart's CEO commented: "Bringing the two companies together creates a
platform for increased margins while allowing technological and revenue growth."



As a result of the consolidation as detailed in the Company's press release of
August 17, 2011 and the acquisition of PowerCart, the Company currently has
17,504,592 common shares issued and outstanding.


About PowerCart 

PowerCart is the original industry founder of mobile power solutions with a
legendary reputation for reliability and on-time delivery with over 30,000 units
sold. PowerCart continues to lead the industry in design and innovation, for
solutions requiring backup and mobile power. PowerCart offers all of its
solutions in the retail, warehousing, courier and mining sectors with a
bumper-to-bumper one year warranty - the best in the industry. PowerCart has
locations in Mississauga, Ontario, Canada, and Medina, Ohio, USA. For more
information, visit www.powercart.com. 


About Active Control Technology 

Active Control Technology is involved in the design, manufacture and marketing
of both wireless and fiber network solutions for mine communications, and the
commercial security and access control industries. The Company has two product
lines: ActiveMine(TM), a fully integrated wireless and/or fiber communications
and locating technology for underground coal mines, and ActiveSecure(TM), a
family of wireless products for the access control industry. Located in
Burlington, Ontario, Canada, Active Control Technology trades publicly on the
TSX Venture Exchange under the symbol ACT. For more information, visit
www.activecontrol.com.


Get more out of your mine.(TM)

Cautionary Note Regarding Forward-Looking Statements: This press release
contains forward-looking statements that involve risks and uncertainties, which
may cause actual results to differ materially from the statements made. When
used in this document, the words "may", "would", "could", "will", "intend",
"plan", "anticipate", "believe", "estimate", "expect" and similar expressions
are intended to identify forward-looking statements. Such statements reflect our
current views with respect to future events and, as such, are subject to risks
and uncertainties. Many factors could cause our actual results to differ
materially from the statements made, including those factors discussed in
filings made by us with the Canadian securities regulatory authorities. Should
one or more of these risks and uncertainties, such as changes in demand for and
prices for the products of the Company or the materials required to produce
those products, labour relations problems, currency and interest rate
fluctuations, increased competition and general economic and market factors,
occur or should assumptions underlying the forward looking statements prove
incorrect, actual results may vary materially from those described herein as
intended, planned, anticipated, or expected. We do not intend and do not assume
any obligation to update these forward-looking statements, except as required by
law. The reader is cautioned not to put undue reliance on such forward-looking
statements.


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