May 27, 2009, Welland, ON – CRS Electronics (“CRS”), the operating subsidiary of Podium Capital Corporation (TSX-V:LED), an engineer, designer and manufacturer of LED lighting, today rang the morning bell to begin market trading. CRS’s President and founder Scott Riesebosch along with other company representatives were excited to meet with senior members of the TSX Venture Exchange team to celebrate their new listing in the fast growing clean technology sector.
To further celebrate opening the market, CRS confirmed that its legal counsel, Gowlings LLP, one of Canada's largest law firms, is installing 588 of its LED MR16s in its Toronto office. Gowlings has offices in all major business and technology centers across Canada – Montreal, Ottawa, Kanata, Toronto, Hamilton, Waterloo Region, Calgary, and Vancouver. Internationally, the Firm has an office in Moscow, serving clients' needs in Russia and the CIS, and in London, U.K., providing energy, resource and infrastructure expertise. This installation will mark the most extensive use of energy efficient LED technology in any law firm in Canada.
CRS became a public company on Monday, May 25, 2009 through the exchange’s Capital Pool Company (CPC) program. As a result of the qualifying transaction recently completed, CRS is now a wholly owned subsidiary of Podium Capital Corp. Podium’s only function is carrying on business as CRS Electronics. A change of name from Podium Capital Corp. to CRS Electronics will be proposed to shareholders at a future date. Full details of the qualifying transaction can be accessed on www.sedar.com.
CRS is a leader in the emerging, rapidly-growing market of high efficiency light-emitting-diode (“LED”), or, solid state lighting (“SSL”). The principal activities of CRS include the development, manufacture and sale, primarily in North America, of indoor and outdoor lighting such as LED replacement lamps, LED streetlights, exterior LED warning lights on school buses , child safety systems for school buses, contract manufacturing of LED circuit boards and recently, LED-based space lighting products. The Company currently sells an LED replacement for the MR16 indoor light and LED light engines (“replacement lamps”) for decorative streetlights. CRS is a well-established supplier to both the school bus industry and the LED contract manufacturing industry, providing a stable and growing revenue source. CRS plans to be a major supplier of LED light engines for a variety of applications to be developed by CRS on its own and in conjunction with its customers.
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