Maple Seal Homes Ltd. To Merge With Partner In Europe, Parent Company
Plans Share Buy-Back With Profits In 2008
VICTORIA, British Columbia, August 20, 2007 - Maple Seal Homes Ltd.
"MSH" http://www.maplesealhomes.com the wholly
owned Canadian subsidiary of Maisonette International Enterprises
Ltd. "the Company" (PINKSHEETS:MAEN) is pleased to
announce that it is merging with its European partner on a 50-50
equal ownership basis.
The merger will be made final no later than December 30th 2007 and
will set the stage for the full operational push towards
European export of MSH's Eco-Friendly panelized houses. As part of
the merger, MSH will invest in a French wholly owned
subsidiary which will in turn act as the importer of all homes in
France. Other subsidiaries will be setup once MSH starts
exporting housing to other European nations.
MSH and the buyer have finalized several technical details for the
first commercial project to be exported to France as soon
as December 2007. MSH is expecting the order to come anytime after
October of this year and is expecting another project
as well to be exported in the beginning of 2008. The Company expects
to generate a tremendous amount of leads if this
project gets built.
In light of these new developments, the Company is planning to buy
back its own shares in the market with some of the
proceeds it will get from the sale of MSH's products. The share
buyback should start in 2008. The Company will keep its
shareholders informed as more development arises.
About Maisonette International Enterprises Ltd.
Maisonette International Enterprises Ltd. is a publicly held holding
company incorporated in Nevada, USA. Its primary asset is
a 100% wholly owned Canadian company called Maple Seal Homes Ltd.
(www.maplesealhomes.com) with its primary activity
being the sale and distribution of panelized prefabricated housing
and building materials for the general public and
Safe Harbor statement under the Private Securities Litigation Reform
Act of 1995: Except for historical information contained
herein, the matters discussed in this press release are
forward-looking statements that involve risks and uncertainties,
including, but not limited to, economic, competitive, governmental
and technological factors affecting the Company's
operations, markets, products and prices and other factors discussed
in the Company's various filings with the Securities and
Exchange Commission. There may be other factors not mentioned above
that may cause actual results to differ materially
from any forward-looking information.
Maple Seal Homes Ltd.