SSQ Acquisitions Inc. (an affiliate of JJR Capital Corp.) Announces Shareholder Approval and Conditional Exchange Approval

    /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
    THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY
    CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW/

    TORONTO, Aug. 24 /CNW/ - SSQ Acquisitions Inc. (the "Corporation"), an
affiliate of JJR Capital Corp., is pleased to announce that the TSX Venture
Exchange Inc. (the "TSXV") has conditionally accepted the acquisition of all
of the issued and outstanding shares of Craig Wireless Systems Ltd. ("Craig
Wireless") as the Corporation's "qualifying transaction" within the meaning of
that term in Policy 2.4 of the TSXV (the "Qualifying Transaction"). In
addition, the Toronto Stock Exchange (the "TSX") has conditionally approved
for listing the subordinate voting shares of the Corporation upon completion
of the Qualifying Transaction.
    The acquisition, which was previously announced by the Corporation on
May 25, 2007 and on July 30, 2007, will be accomplished through the
amalgamation (the "Amalgamation") of Craig Wireless and a wholly-owned
subsidiary of the Corporation, pursuant to an Agreement to Amalgamate (the
"Amalgamation Agreement") dated as of July 30, 2007 among the Corporation,
Craig Wireless, Manalta Investment Company Ltd. (the principal shareholder of
Craig Wireless) and a wholly-owned subsidiary of the Corporation. Final
approval of the TSXV is subject to the Corporation fulfilling all of the
requirements of the TSXV on or before October 22, 2007. The Corporation
expects to close the Qualifying Transaction with an effective date of
September 1, 2007. Immediately after the closing, the Corporation intends to
amalgamate with the amalgamated company formed from the Amalgamation (the
"Subsequent Amalgamation").
    On August 23, 2007, the Corporation filed on SEDAR a filing statement
dated August 22, 2007 in connection with the Qualifying Transaction (the
"Filing Statement"). The Filing Statement contains disclosure regarding the
Qualifying Transaction and the business of Craig Wireless.
    In conjunction with the Qualifying Transaction, the Corporation will make
a number of changes. The Corporation will consolidate its common shares
("Common Shares") prior to the Amalgamation on the basis of one
post-consolidation Common Share for every 6 Common Shares issued and
outstanding immediately before the consolidation. The Corporation will also
amend its articles prior to the Amalgamation to create three new classes of
shares: multiple voting, subordinate voting and non-voting shares. The Common
Shares will be redesignated as subordinate voting shares. The Corporation will
continue its corporate existence to Canada prior to the Amalgamation and, upon
completion of the Subsequent Amalgamation, intends to change its name to
"Craig Wireless Systems Ltd.", or such other name acceptable to regulatory
authorities. All of these changes required the approval of the shareholders of
the Corporation. A meeting of the shareholders of the Corporation was held on
August 24, 2007 and all of the above changes were approved by the shareholders
of the Corporation.
    The completion of the Qualifying Transaction is subject to a number of
conditions. The Amalgamation is an arm's length transaction and is not subject
to the approval of the shareholders of the Corporation.

    Completion of the Qualifying Transaction is subject to a number of
conditions including, but not limited to, TSXV acceptance. There can be no
assurance that the Qualifying Transaction or the listing of the securities of
the Corporation on the TSX will be completed as proposed or at all. Investors
are cautioned that, except as disclosed in the Filing Statement filed on SEDAR
in connection with the Qualifying Transaction, any information released or
received with respect to the Qualifying Transaction may not be accurate or
complete and should not be relied upon. Trading in the securities of a capital
pool company should be considered highly speculative.

    Neither the TSX Venture Exchange Inc. nor the Toronto Stock Exchange has
in any way passed upon the merits of the Qualifying Transaction and neither
have approved nor disapproved the contents of this press release.

    THE TSX VENTURE EXCHANGE AND THE TORONTO STOCK EXCHANGE DO NOT ACCEPT
    RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

    The securities of the Corporation have not been and will not be
registered under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act"), or the securities laws of any state of the United
States and these securities may not be offered or sold, directly or
indirectly, within the United States or to or for the account or benefit of a
U.S. person (as defined in Regulation S under the U.S. Securities Act) without
registration under the U.S. Securities Act and any applicable state securities
laws unless an exemption from registration is available. This news release is
not an offer to sell or the solicitation of an offer to buy the securities in
any jurisdiction.

For further information: Ronald D. Schmeichel, Director of SSQ
Acquisitions Inc. at (416) 972-6294