XPEL to Acquire Canadian Company

XPEL Technologies Corp. in San Antonio has announced the signing of a non-binding letter of intent to acquire 100 percent of the stock of Calgary, Alberta-based Shadow Shield and Shadow Tinting Ltd.

Founded in August of 1999 by owner-operator Nuno Ferreira, Shadow is a paint protection and window tint film training, installation and distribution operation serving Western Canada. Ferreira will be named president of XPEL's newly formed and wholly-owned Canadian subsidiary.

The transaction is subject to final due diligence review, the execution of a definitive agreement and regulatory approval by the TSX Venture Exchange and any other entities maintaining jurisdiction.

According to information from XPEL, Shadow is projected to contribute approximately USD $3 million to XPEL's revenue, along with approximately USD $400,000 of positive net income during fiscal 2007.

For more information, visit www.xpel.com.

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