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Innovative Composites Inc & Kingsmill Capital Ventures II Inc	Update Date: 08/29/08
Date Announced: 08/15/08
Value (million $USD): 2.0 million U.S. Dollar 2.1 million Canadian Dollar

Status: Pending

TRANSACTION DETAILS
Date Announced	08/15/08
Date Originally Announced	08/15/08
Format	Merger	Acquisition techniques	Reverse Takeover; Stock Swap
Attitude	Friendly	Agency	Unspecified Regulatory Auth.
Value	2.0 million U.S. Dollar 2.1 million Canadian Dollar	Advisor Fees	n/a

SYNOPSIS

CANADA - Kingsmill Capital Ventures II Inc (KC) agreed to acquire all the outstanding stock of Innovative Composites Inc, a manufacturer of semiconductors, in exchange for 11.25 mil KC common shares, valued at 2.138 mil Canadian dollars ($2.019 mil US). The shares were valued based on KC's closing stock price of C$0.19 ($0.179) on August 14, the last full trading day prior to the announcement. The transaction was subject to customary closing conditions and regulatory approvals.

TARGET
Name	Innovative Composites Inc
Industries	n/a
City	Toronto
State	n/a
Nation	Canada
Incorporated in	n/a
Public Status	Private
Business Description	Innovative Composites Inc, located in Toronto, Ontario, manufactures semiconductors using fibre-reinforced thermoplastics technology for the marine, construction, automotive, military, recreational vehicles, equine and furniture industries.
Advisors	NULL
Target Sales	n/a

ACQUIROR
Name	Kingsmill Capital Ventures II Inc (TSXVenture : KII.P)
Industries	n/a
City	Burlington
State	n/a
Nation	Canada
Incorporated in	n/a
Public Status	Public
Business Description	Kingsmill Capital Ventures II Inc, located in Burlington, Ontario, is a closed-end investment fund that provides assistance to developing companies in the form of accessing investment capital, strategic opportunities, investor relations, public markets strategies and advice and assistance on management and growth opportunities. The company was founded in 2007.
Advisors	NULL
Acquiror Sales	n/a

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