news
R.A.N.K.I.N. Technologies Inc./ Technologies R.A.N.K.I.N. Inc. (Formerly Cervin Capital Corporation)
Serge Laporte
6/10/1999
MONTREAL, June 10 /CNW/ - Rankin Technologies Inc. (formerly Cervin
Capital Corporation), a Junior Capital Pool company trading on the Alberta
Stock Exchange, today announced that it expects to complete its Major
Transaction tomorrow and acquire all of the issued and outstanding shares of
R.A.N.K.I.N. Research Corporation. The Company will issue 15,200,000 Class A
shares at the agreed value of 22 cents per share to the shareholders of
R.A.N.K.I.N. Research Corporation, who will acquire control of the Company. In
connection with the transaction, options to purchase 100,000 Class A shares
have been granted to each of Messrs. Peter Lashchuk, Robert Nelson, André
Boulay and Paul-André Savoie at the exercise price of 30 cents per share,
contingent upon the transaction being completed.
Rankin Technologies Inc. markets and distributes the ``Boomerang'', a
product patented by the Company. The Boomerang is the central device in a
cellular-based tracking system capable of locating stolen automobiles, heavy
equipment and valuable objects. Utilizing the cellular systems of major
regional telcos, the Boomerang is capable of functioning indoors, underground
and inside metal freight containers and in many other previously inaccessible
conditions.

The Alberta Stock Exchange neither approves nor disapproves of the
information contained herein.
Boomerang Tracking Inc. markets and distributes the Boomerang® tracking devices, proprietary products using technology patented by the Company. The Boomerang, Boomerang2™ and GSM-based units are the central devices in a system that uses the wireless networks of major regional telecommunications companies for tracking stolen assets. The Boomerang Tracking System is capable of locating stolen automobiles, heavy equipment and valuable assets. As a result of its success, the Company has received the endorsement of members of the insurance industry. The Boomerang devices are available and installed through a network of authorized dealers in Quebec and Ontario. The Company's head office, research and development centre and manufacturing facilities are located in Montreal, Quebec, with regional facilities located in Mississauga, Ontario and Orange County, California. Boomerang is a registered trademark and Boomerang2 is a trademark of Boomerang Tracking Inc. The shares of Boomerang Tracking Inc. trade on The Toronto Stock Exchange under the symbol BMG.