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VANCOUVER, B.C.--(BUSINESS WIRE)--DECEMBER 1, 1994--JCI TECHNOLOGIES INC. (Alberta Stock Exchange: JCI ) JCI Technologies Inc. (the "Corporation") announces that it has completed the acquisition of all the issued and outstanding shares of JCI Jobs Canada Inc., resulting in JCI Jobs Canada becoming a wholly-owned subsidiary of the Corporation. The purchase price for the shares of JCI Jobs Canada Inc. was paid by the issuance of 5,006,032 common shares from the treasury of the Corporation at a deemed price of $0.20 per share, for total consideration of $1,001,206.40. JCI Jobs Canada Inc. operates The National Employment Registry, a sophisticated resume database and retrieval service that allows employers to search for job candidates across the country.

In addition, the Corporation announces that it has received approval from its shareholders for a private placement of 854,552 units at $0.55 per unit for total proceeds of $470,003.60. Each unit consists of one common share of the Corporation and one share purchase warrant entitling the holder to purchase an additional common share at a price of $0.70 per share prior to one year from the date of issuance.

The acquisition of the shares of JCI Jobs Canada Inc. and the private placement of 854,552 units constitute the Corporation's Major Transaction pursuant to Policy 4.11 of the Alberta Securities Commission and Circular No. 7 of The Alberta Stock Exchange. Upon receiving the final approval of these transactions by The Alberta Stock Exchange, the Corporation will no longer be a junior capital pool company.

The Corporation also announces the election to the Board of Directors of Messrs. Robert J. Butler and Christopher C. Simpson. Mr. Butler is currently Chairman of the Board of Urban Transportation Development Corporation Limited, Chairman of Canadian Venture Founders, a private investment fund, and a Director of Torstar Corporation. Mr. Butler resigned as Chairman of the Board of Gulf Canada Resources Limited in 1993 having been appointed to that position in 1990. He also resigned as Chairman of GW Utilities Limited upon its privatization in 1993 having held that position since its inception in 1987. Some of Mr. Butler's other Board affiliations have included Abitibi-Price Inc., Consumer's Gas, Home Oil Company Ltd., Interprovincial Pipe Line Inc., Silcorp Corp., etc. From 1977 to 1982, Mr. Butler served with the Ontario Government as the Deputy Minister of Consumer & Corporate Affairs and Secretary of the Management Board of Cabinet. Prior to 1977, he was with The T. Eaton Company for thirty years and became the first non-family President of that organization in 1969.

Mr. Simpson is currently the Vice President, Finance of the Corporation. He holds a law degree from the University of Victoria and a M.B.A. degree from the University of British Columbia. Prior to his studies in law, Mr. Simpson taught a seminar program offered in Tokyo, Japan which prepared applicants to Masters of Business Administration programs in the United States for the Graduate Management Admission Test. From 1987 to 1989, Mr. Simpson was Vice President, Finance and Director with Battery One-Stop. Prior thereto, Mr. Simpson was an investment banker with Nesbitt Thomson Inc.

For more information on JCI Technologies Inc., Jobs Canada and The National Employment Registry call Christopher Simpson, Vice President, Finance.


The Alberta Stock Exchange has neither approved nor disapproved the information contained herein.

CONTACT: JCI Technologies Inc.,

Christopher Simpson, 604/744-2121

KEYWORDS: REPEATS: New York 212-575-8822 or 800-221-2462; Boston 617-330-5311 or

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Publication:Business Wire
Date:Dec 1, 1994
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