North Shore News

ie

MR. JAX Fashions Inc. announced some impor-
tant news recently that may bring change to the
Vancouver clothing company.

By Carol Crenna
Contributing Writer

Mr, Jax president Marshall Cramer disclosed that
Koret Canada Inc., which is also one of the city’s largest
apparel manufacturers, intends to make an offer to buy
all of the outstanding shares of the company for $1.40
per share.

The offer by Koret, or an affiliate of Koret Canada, is
subject to certain regulatory exemptions. Two of Mr.
Jax's major sharcholders who own 49% have advised its
board of directors that they have decided to sell their
shares to Koret unless there is a higher offer given that
is not matched by Koret,

Mustafa Khan, president of Koret. is enthusiastic
about the sale.

“We are excited at the opportunity of acquiring and
expanding the business of Mr. Jax and would expect this
high-style fashion business to continue to grow and
prosper separate from our other business,” he said,

This would give Koret, which is known for its mod-
erately priced misses sportswear, an image boost as weil
as a chance to enter into the upper-quality, high-fashion
level of manufacturing.

Mr. Jax has appointed a committee to assess the fuir-
ness of the offer, which is subject to a number of condi-

. tions. The offer was mailed to the shareholdeis on Nov.

The offer came at the same time that Mr. Jax released

Jax Fasl

ons inc.

its financial results for the first nine months of 1994,
The company recorded a net loss from continuing oper-
ations of $1.26 million ($0.19 per share) on revenues of
$22.7 for the nine months, This compares to a net loss of
$923,000 ($0.14 per share) on revenues of $25.5 million
for the corresponding period in 1993. Net income from
continuing operations for the same period was $613,000
compared with $655,000 in the same period last year.

Mr. Jax designs, manufactures and markets a wide
range of clothing including the JAX, Studio J, and
Country by Jax labels,

Games are real gems

THE SUSAN Clark Gallery of Gem Art will host a spe-
cial showing of Pari Azarm Motamedi's enticing games
and puzzles on Wednesday, Nov. 30 between 6 and 9
p.in.

Motamedi takes the childhood games we have all
enjoyed in our youth and puts a grown-up spin on them.
Snakes & Ladders, chess, backgammon and checkers
are all hand-fabricated using 18-karat gold and sterling
silver and ernbellished with precious gemstones.

When you're not caught up in the competition of the
game, you can wear the game pieces as jewelry.
Chessmen become rings. snakes transform into
brooches and ladders double as earrings.

Renowned chess champion Dr. Nathan Divinsky will
give a brief history of the game of chess at 7 p.m. that
evening. Guests ure invited to challenge Divinsky to an
invigorating game of chess after his wik,

The gallery is located on the penthouse level of 555
W. Georgia St.. Vancouver. Info: 688-3553.

ts 4 Vk, nei
on

D OPENING

berry ellen casual wear

CAy 1987, asmall company was starred by designer
Ellen Berry. Focusing her abilities on creating a
versatile ver casual clothing line for all ages, she
developed a product line that was both unique and
functional, Thus, Berry Ellen Casual Wear was born,

PAnce then, Berry Ellen Casual Wear has teen
producing an entire line of casual clothes, including
ver “One of a Kind" Reversible Coats.

Cn her continuing effort to offer a truly unique
and beautiful product as well as increasing rhe number
of satisfied customers, Berry Ellen Casual Wear invires
you to come to the GRAND OPENING of her new
store on November 29th, 1994 at 1347 Marine
Drive, West Vancouver the Ambleside district.

“A mg with the Reversible Coats, we are
introducing anew line for children... Bear Wear,

A traditional bear with “One of a Kind" reversible
overalls, just like our coats, in sizes 18, 24 and 26
months. We look forward to seeing you on
Novenrber 29th at the Grand Opening!
oliso see us at Lonsdale Quay (004) 988-9992
Hest Vancouver Store (004)926-9979

Ermeeeranry

a :

CRABTREE
We are pleased to

announce the opening of

our newest location

_ PARK ROYAL NORTH

(beside The Bay)

Please come by on
Saturday, November 26
from 12:00 - 5:00 p.m.

for our free afterncon tea.

We hope to see you there.

& EVELYN

Telephone: 925- 895 6