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Jul 31, 2008 10:26:00 AM
ATLANTA, GA -- (MARKET WIRE) -- 07/31/08 -- JPC Capital Partners, Inc. (OTCBB: JPCI), based in Atlanta, Georgia, announced today that its shareholders had voted to approve changes to JPCI's certificate of incorporation and board of directors, both steps necessary to complete the stock purchase and share exchange agreement with Componus, a Nevada corporation ("Componus"). Chairman and CEO of Componus, Inc., Eric Huang, states, "I am both pleased and excited about the opportunities that will be created from our going public and trading in the U.S. equity markets. I personally feel that this will add value to our business model and create more opportunities for our future growth potential. We look forward to expanding our capabilities as a direct link in the global automotive marketplace."
The stock purchase and share exchange agreement provides for the acquisition of Componus by JPC Capital Partners, Inc. with Componus becoming a wholly owned subsidiary of JPCI. In connection with this acquisition, JPCI's shareholders approved today a reverse split of outstanding JPCI common shares on a 2 for 1 basis and an increase of the number of authorized shares from 95 million to 250 million. JPCI expects to complete the share exchange on Monday, August 4, 2008 and issue 89,000,000 shares of common stock in exchange for all capital shares of Componus. As a result of this share exchange, Componus shareholders will own approximately 87.25% of the total issued and outstanding common stock of JPCI. JPCI CEO John Canouse stated: "We are very excited that our shareholders have voted overwhelmingly to complete this transaction. We believe this transaction to be an effective strategy to increase value by allowing our shareholders an opportunity to participate in the economic growth surge happening in the Asian markets. Componus is an established company with significant assets and a tremendous revenue potential in the multi-billion dollar metal forging and automotive supply industry. We see this as a great opportunity for JPCI shareholders."