RENO, Nev., Dec. 10, 2007 (PRIME NEWSWIRE) -- EPOD International Inc. (the "Company," "EPOD") (Pink Sheets:EPOI) (Frankfurt:EDU), a Grid-Integrated, eco-power utility and electric power systems provider, announced that the reorganization transaction in which EPOD Solar, the company's newly incorporated Canadian subsidiary, will assume the business of EPOD is scheduled to close on December 21, 2007. The terms of the transaction were described in a press release issued on November 20, 2007. The Company is adding two processes to the transaction in order to address relevant corporate and securities requirements in Canada and the United States. The new procedures are a merger with a newly incorporated Nevada subsidiary and the implementation of the transaction as a plan of arrangement under the laws of British Columbia, Canada. These amendments require an amendment to the governing agreement to supplement and adjust the provisions of the original agreement, but do not change the substantive effect of the transaction in which shareholders of EPOD will receive an identical interest in EPOD Solar as that held in EPOD.
Pursuant to the plan of arrangement proceedings, the arrangement must be approved by a Court in British Columbia in which interested parties are entitled to attend and make submissions. December 21, 2007 has been identified as the date for the court approval hearing. Any shareholder of EPOD may attend or make submissions at this proceeding, and may do so by forwarding written submissions or by attending in person. Shareholders can make such arrangements by contacting EPOD at 5-215 Neave Road, Kelowna, BC, V1V 2L9 attention: Corporate Secretary by mail or at 250-491-8111 or contacting counsel to the EPOD, Taylor Veinotte Sullivan at Suite 300, 1168 Hamilton Street, Vancouver, BC V6B 2S2, tel. (604) 687-7007.
L. Mark Roseborough President EPOD International Inc.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Statements about EPOD's future expectations, including future revenue, earnings, and transactions, as well as all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. EPOD intends that such forward-looking statements be subject to the safe harbors created thereby. These statements involve risks and uncertainties that are detailed from time to time in the Company's filings with the Securities and Exchange Commission, including, but not limited to, the Company's 10-KSB for year ended December 31, 2006 filed on or about May 4, 2007, as amended by a 10-KSB/A filed on November 15, 2007, and incorporated herein by reference.
About EPOD: EPOD is a Grid-Integrated, eco-power utility and electric power systems provider. The Company's operations include the engineering and construction of turn-key factories for solar panel production and material handling systems. Additionally, the Company has subsidiaries involved in the manufacturing of inverters, rectifiers, energy management systems, and solar panels.
The Company's filings, including current financial reports, can be accessed through the EDGAR database at www.sec.gov.