Effective Tuesday, Aug. 10, 2004, Palcan Fuel Cells Ltd. (Burnaby, BC) will change its name to Palcan Power Systems Inc., subject to formal approval of the TSX Venture Exchange. The change of name was approved by the company's shareholders at the annual meeting of shareholders that was held on June 8, 2004. The company's trading symbol on the TSX Venture Exchange will remain unchanged as PC. Its Cusip number for common shares will also remain unchanged as 696263102.
"This change in Palcan's name clearly emphasizes the significant addition to our business of our metal-hydride-based, hydrogen storage products," said Palcan's Chairman and Chief Executive Officer John Shen. "Today we are much more than a fuel cell company. We have an opportunity to significantly advance the packaged hydrogen infrastructure that all smaller fuel cell products must rely upon as well as address market opportunities for bulk storage and transportation of hydrogen. Our new name encompasses both our fuel cell products business and the large hydrogen storage product opportunities that will become Palcan's primary business focus as we move forward."
