GKX Gemini Corp. (delisted)

Gemini Corporation ("Gemini") (TSX VENTURE:GKX) today announced it has redeemed
all of its 6.6% Cumulative Redeemable Series I Preferred Shares ("Preferred
Shares").


The Board of Directors of Gemini approved a resolution to redeem the 1,177,440
Preferred Shares at $1.00 per share plus accrued and unpaid dividends of $0.0255
per share for a total redemption amount of $1,207,465. Gemini's strong balance
sheet position and anticipated future operating performance were reviewed prior
to finalizing this decision. The shares being redeemed are under the control and
direction of Mr. Carl Johnson, the Corporation's President and CEO.


Mr. Johnson currently holds private options issued by certain shareholders to
purchase 4,947,610 common shares of the Corporation at an exercise price of
$0.25 per share. These options are due to expire on May 31, 2009 and he intends
to use the proceeds of this Preferred Share redemption to exercise these
options. Upon completion of these transactions, he will hold an aggregate of
8,636,174 common shares representing 24.9% of Gemini's outstanding shares.


Due to the involvement of Mr. Johnson, the redemption is classified as a
"related party transaction" pursuant to the policies of the TSX Venture
Exchange, which incorporate Multilateral Instrument 61-101 Protection of
Minority Security Holders in Special Transactions (MI 61-101). However, the
transaction is exempt from the formal valuation and minority shareholder
approval requirements of MI 61-101, as neither the fair market value of the
Preferred Shares, nor the fair market value of the consideration for the
redemption, exceeds 25% of the market capitalization of Gemini.


In connection with the redemption of the Preferred Shares, Gemini filed a
material change report with the applicable securities regulatory authorities
less than 21 days prior to the closing date of the transaction, which in
Gemini's view is both necessary and reasonable, in order to provide Mr. Johnson
and Gemini with a sufficient amount of time to organize the exercise of the
options prior to their expiry on May 31, 2009.


About Gemini Corporation

Gemini Corporation offers a wide range of interrelated services including
project management, engineering, fabrication, construction, operations and
maintenance of oil & gas and industrial facilities within Canada and
internationally. The Corporation is a leading provider of engineered solutions
and field services through either stand-alone or integrated, full-service
approaches to a broadening client base in the energy, environmental and
industrial sectors.


Shares of Gemini trade on the TSX Venture Exchange under the symbol "GKX". For
more information about the Corporation and its services, go to
www.geminicorp.ab.ca.

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