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JNS Power & 350 Green Executes Formal Letter of Intent for Acquisition of the Chicago Grant Agreement


charging station (select to view enlarged photo)

CHICAGO--February 11, 2013: JNS Holdings Corporation (OTC Markets Group: JNSH) is pleased to announce today after extensive negotiations that it has executed a Formal Letter of Intent with 350 Green, LLC to acquire certain assets which consists of the Chicago area Grant Agreement only.

“Upon completion of the acquisition, JNS Power & Control Systems, Inc. will be entering the multi-million dollar electric vehicle charging station market with an eye on continued growth in the sector”

Once the network is completed JNS will own and operate 201 Level II chargers and 73 Level III fast chargers within the Chicago market.

The acquisition enables JNS to enter this emerging sector within the electric vehicle charger industry in the third largest market in America. We are very pleased to have been able to reach this agreement and appreciate all the cooperation that 350 Green's management has given as to reaching this LOI.

Both companies will now move forward expeditiously to a contract and closing, during this process all terms and conditions will remain confidential until otherwise mutually agreed.

"Upon completion of the acquisition, JNS Power & Control Systems, Inc. will be entering the multi-million dollar electric vehicle charging station market with an eye on continued growth in the sector," stated Brian Howe, CEO. "We look forward to this exciting new revenue generating opportunity for our company and fully expect to build on it in other markets and in our home market as well."