MonArc Corporation (MONA.PK) Closes Merger With Syscon Products Ltd.

TORONTO, Feb. 29 /PRNewswire-FirstCall/ — MonArc Corporation announced today that it completed its acquisition of Syscon Products Ltd, and Horescon Inc. North American Distributor.

Acquisition for both companies is a mixture of cash and stock valued at about $600,000 for both companies.

MonArc CEO, Steen Elgaard, announced: “Having witnessed the market demand and excitement related to the our product line at the Trade Show in Las Vegas this past week, we are confident that this acquisition will have a major impact in terms of revenue and profitability for the Company moving forward.” Elgaard added: “We want to clarify that we acquired HoResCon North America, http://www.horescon.com/ and not the actual manufacturer Horescon in Denmark. That proposal has however has been presented to the Danish company for their consideration and it is something that may in my opinion in due time come to fruition.” Elgaard added, “I have been involved with both Syscon and Horescon from the beginning and wanted to see the completion of these transactions so to enable MonArc to benefit from the anticipated and pending contracts which both of these companies have lined up. I also wish to take this opportunity to advise our shareholders that notwithstanding our previously announced plans for a forward stock split, both Syscon and Horescon under the terms of our agreement shall not be the beneficial recipients of the upcoming forward stock split we are currently exploring.”

About MonArc Corporation

Founded in 2007, MonArc Corporation is fast becoming one of the hospitality-industry’s leading providers of asset based systems and financing corporations in North America. The company maintains 3 separate divisions within its corporate structure. CanDen Financial, for leasing services, Syscon and Horescon North America, a licensed distributor of inventory control systems, and POS solutions meeting the needs of the Food & Beverage Industry. Its product line is designed and engineered in Europe. The company also operates a B2B division being a mergers and acquisitions division, which operates under the trade name (IFGX).

Safe Harbor Statement

Information in this press release may contain ‘forward-looking statements.’ Statements describing objectives or goals or the Company’s future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the ‘Safe Harbor’ provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the ability to close transactions being contemplated, risks related to sales, continued acceptance of MonArc Corporation’s products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in MonArc Corporation’s periodic reports filed with the regulatory authorities.

MonArc Corporation (MONA)

CONTACT: monarcgroup@gmail.com, http://www.monarc-corp.com/, Investor Relations:Mina Mar Group (800) 365-4331