Attention Business/Financial Editors:
AADCO Announces Completed Transaction
AADCO Automotive Inc. (AA: TSX - Venture Exchange)
BRAMPTON, ON, July 29 /CNW/ - AADCO Automotive Inc. ("AADCO") announcesthat on July 13, 2005 it completed a shares for debt transaction in whichAADCO issued 300,000 common shares to settle an outstanding debt of $30,000.This debt is for bridge financing fees owed to Hodgkinson EquitiesCorporation, a company controlled by a director of the Corporation.Conditional approval for the shares for debt transaction has been obtainedfrom the TSX Venture Exchange. The shares were issued at a price of $.10 pershare and are subject to a 4-month hold period.
About AADCO
AADCO Automotive Inc. is a growing, Canadian public company with a unique business model committed to complete vehicle dismantling to provide quality used OEM parts, recyclable core from insurance salvage and aftermarket parts to meet the needs of the collision/ mechanical repair industry, as well as the remanufacturing industry through it's Coreline division. AADCO serves over 3,000 mechanical and collision repair clients across Ontario through its LKQ parts division. AADCO maintains one of the largest unbolted inventory of quality used OEM parts in Canada at its 87,000 sq. ft. facility in Brampton, Ontario. AADCO is the only auto recycler to have been awarded the Ecologo for environmental stewardship.
The TSX - Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For further information: Please contact: AADCO Automotive Inc. - (905) 789-9313, Charles Hodgkinson, CEO, chodgkinson@aadco.ca
