Cantronic Systems Signs LOI to Acquire Actiontop Electronics of China

Vancouver-based Cantronic Systems Inc., announced that it has signed a letter of intent (LOI) to acquire all of the issued and outstanding shares of Actiontop Electronics (Shenzhen) Co. Ltd. of China. Actiontop manufactures high-speed video surveillance cameras and related products. The purchase price is approximately C$3.9 million, made up of RMB denominated cash (40%) and Cantronic common shares (60%). A third party will provide a large portion of the cash component in return for 30% ownership of Actiontop. Cantronic Systems is a global technology provider of infrared imaging and commercial vision systems.