Direct IT Signs an Amalgamation Agreement with 1208640 Alberta Ltd.

Publication: Business Wire

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COPYRIGHT 2006 Business Wire

TORONTO -- Direct IT Canada Inc. (TSX VENTURE:DCT) is pleased to announce that it has entered into an Amalgamation Agreement today with 1208640 Alberta Ltd. ("Newco"), whereby through a proposed arms length business combination (the "Business Combination") Direct IT Canada Inc. ("Direct IT") will acquire all of the outstanding common shares of Newco by way of reverse takeover. The proposed Business Combination is subject to TSX Venture Exchange and shareholder approval.

As previously announced on January 6, 2006, Newco is a private company incorporated under the laws of Alberta in December 2005, with Nicholas Topolnyski being the sole officer and director. Newco is involved in the oil and gas industry and has...

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