Flexpower Inc. (FLXP)

[CaptainD2u]

News for 'MONA' - (MonArc Corporation (MONA:PK) Signs LOI to acquire Industrial Manufacturer)


TORONTO, Dec 22, 2008 /PRNewswire-FirstCall via COMTEX/ -- MonArc Corporation
http://www.monacorporation.com/ (MONA.PK) announced that it has signed a letter
of intent to acquire a small North American industrial manufacturing facility.
The current economic downturn has created an opportunity for others, explained
Mr. Garr Winters, the company's secretary, corporate advisor, and chief
expansion director. Mr. Winters said, "The transaction will be completed on all
cash basis. This is a small manufacturing facility of specialized industrial
solvents. We have reached a tentative deal with the secured creditor. This bank
is adamant that the transaction close on or before January 5 2009 for their own
internal reasons. To that end it is safe to say that MonArc is acquiring these
assets at a fraction of the price. Mona is not only acquiring the assets but the
entire manufacturing company. Details will be released shortly."

In other corporate updates, the company and its transfer agent are working
through various regulatory requirements and are awaiting clearance before the
various stock and cash payments can be made to its shareholders as previously
announced. The company regrets this delay however the matter is beyond their
control. Compounding the delay is that MONA has yet to receive some payments
currently due as some of these companies are in a process of management change
themselves due to the recent sales and mergers. The company expects full
compliance shortly and payments to be made as previously announced. The company
is also continuing its talks with a purchaser of its PP365.Com assets, and will
keep its shareholders advised of any new developments. The company being a
beneficiary in a slander lawsuit against Investors Hub and some of its employees
and or posters is pleased to report that that litigation matter is proceeding as
scheduled with the Plaintiff vigorously pushing forward for a relief from the
courts.

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.