Genivar Income Fund Buys Brampton-based Magnate

"Joining forces with Genivar will foster our development. We will also be better able to expand our services through Genivar's national and international operations network," said Elizabeth Stanmore, President and Deborah Kingston, Vice-President of Magnate.

Established in 1999, Magnate has 70 employees at its head office on Automatic Road in Brampton and a second office in Surrey, British Columbia. The firm has an extensive portfolio of completed projects throughout Canada and United States. It designed and managed major projects for utilities, transportation authorities, wireless and wireline providers, municipalities and electricity companies. It also designed the first information technology project in Toronto as part of the Group of experts on "smart community" put in place by the Federal Government. Magnate's clients include carriers and vendors such as Rogers Wireless, Bell Mobility, TELUS Mobility, Greater Toronto Airports Authority, TeraGo Networks, Cogeco Date Services (formerly Toronto Hydro Telecom), Cogeco Cable, Shaw Communications, Comcast Cable Communications, and Cox Communications.

"I am very pleased to welcome Magnate within the Genivar family," said Pierre Shoiry, Genivar's President and CEO. "Magnate will significantly strengthen and complement our telecommunications services while boosting our sector team to more than 200 employees in Canada.”

For more information on Magnate, visit www.magnatedesign.com.

For information on Genivar, visit www.genivar.com.