GKX Gemini Corp. (delisted)

Gemini Corporation (TSX VENTURE:GKX) today announced its financial results for
the fiscal year ended December 31, 2009.


Revenues for 2009 totalled $75 million compared to the $78 million achieved in
2008. Fourth quarter revenues for 2009 were $21 million, which was 10% higher
than the revenues achieved in the same period of 2008. The revenue growth for
the quarter was primarily attributable to Field Solutions projects completed in
relation to heavy oil developments. Overall, the availability of project
opportunities was subdued throughout 2009 as clients implemented stringent
capital spending constraints. The Corporation's breadth of services helped to
offset some of the effects of this reduced capital spending by taking advantage
of the push toward debottlenecking of facilities and increased maintenance
activity. A certain level of optimism for a gradual increase in capital spending
is beginning to take hold in the oil and gas market and therefore revenues are
anticipated to strengthen through 2010.


Competitive pressures driven by the uncertainty of the recession had a negative
impact upon pricing and thus profitability remained well below expectations.
This condition was most pronounced in the last half of the year as field
activity began to increase at lower margins. In addition, general and
administrative costs increased through 2009 as business development resources
were augmented to respond to the more competitive environment and senior
management personnel were brought in for succession planning and to position the
organization for growth as the economy recovers.


The net loss for 2009 of $127,000 (0.4 cents per share) was significantly lower
than the 2008 net earnings of $3.0 million (8.4 cents per share). The land sales
completed last year positively impacted net earnings by $3,015,000 and therefore
the operating performance was a net loss of $23,000. The economic conditions
over the past two years have challenged the profitability of the Corporation and
as a result management has completed a comprehensive strategic review. This
review has resulted in a number of actions being taken to reposition Gemini for
growth as the economic conditions begin to improve. The company has been
restructured and rebranded under the Gemini name, increased resources have been
directed toward business development and client relationships, and the fixed
infrastructure of the organization is under heightened scrutiny.


"Last year continued to be a difficult time for most companies in the service
industry", said Doug Lautermilch, Gemini's President and CEO. "The economic
uncertainty was very high and the resultant project opportunities were extremely
competitive. Stepping into Gemini mid-year afforded me only a short time to
assess the situation before beginning to chart a new course for the company as
the economy recovers. The results for 2009 generally reflect our position of
having to weather the economic storm. During this period, various efforts have
been initiated to fundamentally improve Gemini's profit performance. These
efforts will require a concerted commitment on the part of Gemini's entire
management team to lead the organization to improving results in 2010 and
beyond."


About Gemini Corporation

Gemini Corporation offers a wide range of interrelated services including
project management, engineering, fabrication, construction, 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 service approaches to a broadening
client base in the energy, environmental and industrial sectors. The
Corporation's principal target markets are conventional oil and gas,
unconventional gas, heavy oil, industrial, and renewable energy.


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.


Gemini's 2009 annual report will be filed with SEDAR at www.sedar.com by March
31, 2010.




CONSOLIDATED FINANCIAL HIGHLIGHTS

Operating Highlights ($'000)       Three Months Ended        Year Ended
                                       (Unaudited)            (Audited)
                                   Dec 31,     Dec 31,   Dec 31,     Dec 31,
                                     2009        2008      2009        2008
Revenue                          $ 20,895    $ 18,847  $ 74,908    $ 78,230 
Gross profit                        3,026       3,197    14,811      14,119 
Earnings before interest & taxes      577       2,357       180       3,888 
Net (loss) earnings                  (499)      2,218      (127)      2,992 
Earnings per share (basic)       $ (0.014)   $  0.063  $ (0.004)   $  0.084 
Earnings per share (diluted)     $ (0.014)   $  0.063  $ (0.004)   $  0.084 

Operating cash flow (i)
(excludes working capital 
 changes)                        $   (143)   $   (309) $  1,332    $  1,369 
Operating cash flow per share    $ (0.004)   $ (0.009) $  0.038    $  0.040 

Balance Sheet Highlights ($'000)    December 31, 2009     December 31, 2008
Working capital                              $ 11,793              $ 12,403 
Total assets                                   32,873                28,554 
Shareholders' equity                           15,162                16,180 

(i) Operating cash flow is a non-GAAP financial measure which does not 
    have a standard meaning and therefore may not be comparable to similar
    measures presented by other companies.



Disclaimer

This news release contains forward looking information that represents Gemini's
internal projections, expectations, estimates or beliefs concerning, among other
things, future operating results and various components thereof or Gemini's
future economic performance. All statements other than the statements of
historical fact may be forward-looking statements. In some cases,
forward-looking statements can be identified by terminology such as "may",
"will", "should", "expects", "projects", "plans", "anticipates", and similar
expressions. The projections, estimates and beliefs contained in such
forward-looking statements are based on management's assumptions relating to
Gemini's performance and competition within the sectors in which it competes,
the continuation of the current regulatory and tax regimes in the jurisdictions
in which Gemini operates, and necessarily involve known and unknown risks and
uncertainties, including risks and assumptions relating to client service
demand, field service costs, labour rates, and other factors that may cause
actual performance and financial results in future periods to differ materially
from any projections of future performance or results expressed or implied by
such forward-looking statements. Accordingly, readers are cautioned that events
or circumstances could cause results to differ materially from those predicted
or suggested. The Corporation does not undertake to update any forward-looking
information in this document whether as to new information, future events or
otherwise.

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