Mercator Transport Group Corporation to Purchase French Corporation SAS Trans Orient Services

Tuesday, June 23, 2009 11:52 AM

LAVAL, QC, June 23 /CNW Telbec/ - Mercator Transport Group Corporation ("Mercator") (TSX-V: GMT) is proud to announce the acquisition of all the issued and outstanding shares of SAS Trans Orient Services ("Trans Orient"), the important elements of the transaction being the following:

- Acquisition of 100% of the shares of Trans Orient, a French corporation
  located in Lyon;
- The acquisition will be concluded at an amount of CAN$1,068,000
  (euro 675,000);
- The acquisition entails no shareholder dilution or further indebtedness
  of Mercator;
- Trans Orient specializes in international transport brokerage,
  primarily water and air transport;
- Trans Orient achieved annual sales of CAN$7,500,000 (euro 4,734,000)
  for the fiscal year ended September 30, 2008;
- Trans Orient has 10 employees; and
- Trans Orient represents for Mercator a platform for European and
  African market penetration.

It is anticipated that Mercator Transport France Inc., a wholly owned subsidiary of Mercator, will acquire from the seller, Orient Finances SAS, of all the shares of Trans Orient for a purchase price of CAN$1,067,992 (euro 675,000), payable at the moment of closing. The amount will be paid out of available cash assets of Mercator, entailing no shareholder dilution or further indebtedness of Mercator.

This acquisition takes place in the context of the judicial liquidation of Orient Finances SAS, a French corporation which held, amongst other assets, all the shares of Trans Orient. On June 22, 2009, Mercator received judicial confirmation of acceptance of the terms of the offer, as submitted.

About Trans Orient

Located in Lyon, France, Trans Orient is a French corporation specialized in international transport brokerage, prioritizing water and air transport.

Trans Orient was founded in 1989 by Ms Denise Radix, Chief Executive Officer since the foundation. Mercator plans to retain her services and nominate her as director of operations for Trans Orient. Ms Radix confirmed she has accepted her new functions.

According to the annual audited financial statements, Trans Orient achieved sales of CAN$7,500,000 (euro 4,734,000) for the twelve-month fiscal year ended September 30, 2008 ,generating net earnings of CAN$226,000 (euro 143,000 ). The balance sheet as of September 30, 2008 indicates assets of CAN$2,700,000 (euro 1,705,000), liabilities of CAN$1,600,000 (1,007,000 euro) and shareholders' equity of CAN$1,100,000 (euro 698,000). The financial statements of Trans Orient were prepared in accordance with French generally accepted accounting principles.

According to the unaudited interim financial statements for the eight-month period ended May 31, 2009, Trans Orient achieved sales of CAN$4,000,000 (euro 2,536,000), generating net earnings of CAN$103,000 (euro 65,000).

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