http://www.dinancars.com/bmw/press

Canfe Ventures Announces Agreement in Principle with Dinan Engineering and its Shareholders



VANCOUVER, BRITISH COLUMBIA ? August 29, 2008 ? Canfe Ventures Ltd. ("Canfe") (TSX-V:FEY.P), a capital pool company as defined under Policy 2.4 of the TSX Venture Exchange (the "TSX-V"), is pleased to announce that it has entered into an agreement dated August 28, 2008, (the "Letter Agreement"), for the arm's length acquisition of 100% of the shares of common stock of Dinan Engineering, Inc. ("Dinan"), a company incorporated under the laws of California, USA. Stephen J. Dinan and Janice Dinan, both residents of California, and Canaccord Capital Corporation will be the vendors of the Dinan shares. This transaction is intended to qualify as Canfe?s "Qualifying Transaction" under TSX-V Policy 2.4.



Pursuant to the Letter Agreement, Canfe will acquire all of the issued and outstanding shares of Dinan in consideration for securities of Canfe consisting of common shares (the ?Canfe Shares?) and other securities convertible or exercisable into Canfe Shares so that if converted or exercised on closing, the shareholders of Dinan would hold in the aggregate 53,343,333 common shares in the capital of Canfe at a deemed price of $0.50 per Canfe Share for a total deemed value of $26,671,667. The proposed business combination with Dinan (the "Proposed Transaction"), when completed, is intended to enable Canfe to qualify as a Tier 1 Technology/Industrial Issuer on the TSX-V.

Wow!!! This is news! I wonder how this will affect the company's future in regards to devotion to customer needs vs. shareholder equity :)

Remember what happened to Saleen?

However, it looks like the current management at Dinan will remain in tact. For how long? I guess that depends on how much longer they keep operating Dinan in the red.

I know these people , maybe I can get a deal ....................NOT ! :lol:

Imagine that! A Vancouver company taking over Dinan!

and your point is ?

Nothing of any importance. More of a "who would have thought"?

He's back peddling K.... :P :lol: