Miranda Technologies Calls Early Shareholders Meeting After Pressure From JEC and Other Concerned Shareholders

MONTREAL, QUEBEC--(Marketwire - Dec. 30, 2011) - The Concerned Shareholders of Miranda Technologies Inc. (Miranda or the Company) are pleased to report that the board of Miranda has listened to the Concerned Shareholders' demand for an early shareholders meeting by calling the Company's annual meeting of shareholders on April 17, 2012, a significantly earlier date than usual. Regrettably, Miranda's board chose to cloak the announcement with the ridiculous assertion that the Concerned Shareholders' requisition for an early shareholders meeting was invalid. Based upon the advice and determination of their legal counsel, Norton Rose OR LLP, the Concerned Shareholders also report that their requisition was in fact valid.

Said Peter Heiland, Managing Partner of JEC Capital Partners, LLC:

"While we are delighted our efforts have pushed the board of Miranda Technologies to call a shareholders' meeting at a significantly earlier date than the date the annual meeting is usually held, we are disappointed that Miranda's board continues to make false and misleading statements about us and our requisition and has failed to maximize value for all Miranda shareholders. While we would have preferred an even earlier meeting date, we hope that the board and its recently appointed financial and legal advisors will use the additional time to advance the Company's strategic plans and initiatives for the creation of shareholder value. Of course, if Miranda's board continues to be ineffective in this process, we are satisfied that Miranda's shareholders will have the opportunity to effect necessary change at the annual meeting in mid-April 2012."

JEC is one of Miranda's largest shareholders, and will continue to support long-term value creation for the Company's shareholders.