(Telecomworldwire Via Acquire Media NewsEdge) CelLynx Inc, a developer of plug-and-play cell phone signal-amplification technology, announced on Monday (28 July) that the company and Norpac Technologies Inc (OTC BB:NRPT.OB) have completed a reverse merger.

Under the terms of the merger transaction, Norpac issued approximately 1.25 shares of common or preferred stock, which is convertible into common at a 1:1 ratio, in exchange for each share of CelLynx common stock.

As a result of this reverse merger, CelLynx is now the company's sole business and CelLynx shareholders own approximately 61.8% of the equity in the newly merged company.

Norpac will file for a name change to 'CelLynx Group Inc', and for a stock ticker symbol change, which is expected to become effective early next month.

Concurrent with this merger transaction, all prior Norpac officers have resigned and have been replaced by the officers of CelLynx. This includes founders Daniel Ash, chief executive officer, and Tareq Risheq, celLynx Chief strategy officer.

Ash has been appointed a member of the board of directors of the new entity. Norpac's John Thornton will remain the new company's director, until it appoints an expanded board of directors, which is expected within 30 days. Upon this appointment Thornton will resign his board seat.

Also, in connection with this transaction, the company has successfully completed a series of equity financings, raising net proceeds of USD2m from a group of accredited and institutional investors.