Vancouver, British Columbia CANADA, Nov 16, 2010 (Filing Services Canada via COMTEX) -- Minaean International Corp.(MIB - TSX Venture)(NJA - FWB)(NJA - BSE), ('Minaean' or the 'Company') is pleased to announce that it has entered into an agreement with Wakabayashi Fund, LLC ('Wakabayashi'), a private equity family fund company located in Tokyo, Japan, whereby Wakabayashi will provide investor relations and corporate communication services.
Pursuant to the agreement, Wakabayashi will also provide non-exclusive capital funding services whereby Wakabayashi will serve as an investment banking liaison and act as a capital consultant for a period of six months.The Company will pay Wakabayashi a cash finder's fee of 7% on the amount of capital raised as a result of investors introduced by Wakabayashi.
Wakabayashi's engagement, which is subject to regulatory approval, will be effective November 11, 2010, for a term of six months.Wakabayashi will also be granted 250,000 incentive stock options at an exercise price of $0.10 per share for a period of two years.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
Minaean International Corp. ('MIC'), a public corporation established in 2003 from Vancouver, B.C., Canada, is focused on the development and promotion of innovative quick-build light gauge steel ('LGS') technologies for the construction of cost effective and environmentally friendly structures.
MIC operates two wholly owned subsidiaries:Minaean Habitat (India) Pvt. Ltd. ('MHI') which has a strong and sustainable market presence in India, the world's fourth largest economy, and Minaean Building Structures Inc. ('MBS') which serves the North American market with operations in British Columbia, Oregon and Washington.
MHI is strategically positioned to become the leading manufacturer of light gauge steel and modular solutions in the burgeoning Indian market. The Company has diversified into a multi-industry portfolio comprising residential, commercial and infrastructure development solutions. The Company pioneered the Indian construction industry with the launch of its trademarked products, 'Vesta Quick Build(tm)' and 'Artisan Quick Build(tm)' cold formed steel construction systems. The Company expanded its product portfolio in 2006 to prefabricate, supply and install modular buildings and in 2008 to include production and installation of modular Bus Queue Shelters.
MBS with its light gauge steel Artisan Quick Build(tm) technology, can manufacture and install the superstructure of a 4- to 8-storey building within 3 months. Modular panels are prefabricated, transported to the site, and erected like LEGO blocks at the average of one floor (approx. 50,000 sq. ft.) per week.These modular panels are constructed using the flooring system of Hambro (a strategic alliance partner of Minaean), a subsidiary of CANAM Steel.
The shares of Minaean International Corp. are publicly traded on the TSX Venture Exchange under the symbol 'MIB' and on the Berlin and Frankfurt Stock Exchanges under the symbol 'NJA'. For more information, please visit www.minaean.com.
ABOUT WAKABAYASHI FUND LLC
Wakabayashi Fund LLC., a private equity family fund with offices in Tokyo, Japan and New York, USA, provides corporate capitalization and institutional investor relations consulting services. Wakabayashi may invest on a principal basis and acts in an agency capacity to procure capital for both profitable and emerging smallcap and midcap companies, identifying institutional funding sources for its clients and further develops the investor relations activities.
Wakabayashi is committed to providing its clients with an uncompromising level of service to assist them in realizing both their immediate and long-term objectives. The company believes the success of any organization lies in the ability to effectively execute the business plan at each stage of development, and our role is to assist in completing the business plan goals.
Wakabayashi specializes in corporate development, corporate governance, short term and long term financing, institutionally driven sponsorship, business development and management consulting services.
On behalf of the Board of Directors
MINAEAN INTERNATIONAL CORP.
Mervyn Pinto, President & CEO
Phone (604) 684-2181
Source: Minaean International Corp. (MIB - TSX-V)
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