May 15, 2006 -- BELLINGHAM, WA--(MARKET WIRE)--May 15, 2006 -- Rubincon Ventures, Inc. (OTC BB:RBCV.OB - News), and its previously announced partner in a soon-to-be completedmerger, API Electronics Group Corp. (OTC BB:AEGCF.OB - News), today announced that it has completed the acquisition of Keytronics Inc., a manufacturer of a wide variety of power transformers, reactors, magnetic amplifiers, power supplies and converters, numerous special purpose electronic assemblies including capacitor modules and medical electronics. The acquisition of Keytronics will be complementary to API Nanotronics, the merged company of API and Rubincon Ventures, Inc. (OTC BB:RBCV.OB - News).
Keytronics has built and maintained a reputation for quality, reliability and timely delivery to satisfy the world's most demanding customers and applications, including BAE, Lockheed Martin, Smiths Aerospace, Ametek Aerospace, Raytheon and many other military and aerospace contractors and customers.
"We are pleased to add Keytronics and its product portfolio to API and Rubincon," stated Phillip DeZwirek, Chairman and Chief Executive Officer of API Electronics Group. "A well-established company that has been in business for 35 years and owns a 25,000 square foot facility in Endicott, New York, Keytronics' solid reputation, client base and manufacturing expertise will complement those of API and Rubincon and help to strengthen our position in the market going forward."
ABOUT API ELECTRONICS
API Electronics Group Corp., through its wholly owned subsidiaries API Electronics Inc., Filtran Group and TM Systems, is engaged in the manufacture of electronic components and systems for the defense and communications industries. With a growing list of blue chip customers, including Honeywell/Allied Signal, General Dynamics, Lockheed Martin and numerous other top technology-based firms around the world, API regularly ships off-the-shelf and custom designed products to clients in more than 34 countries. API owns state-of-the-art manufacturing and technology centers in New York, Connecticut and Ontario, Canada and has manufacturing capabilities in China and a distribution center in Britain. API Electronics trades on the OTC Bulletin Board under the symbol AEGCF. For further information about Filtran Group and API Electronics, please visit the company websites at www.filtran.com and www.apitech.com.
Safe Harbor for Forward-Looking Statements:
Except for statements of historical fact, the information presented herein constitutes forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Rubincon Ventures, Inc. and/or API Electronics Group Corp. and its subsidiaries and affiliates have little or no control.
ON BEHALF OF THE BOARD
Rubincon Ventures, Inc.
Guy Peckham, Director