Noveko International Announces a Second Closing of $900,000 of its Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
EKO / TSX
MONTREAL, Oct. 29 /CNW Telbec/ - Noveko International Inc. (the "Company") is pleased to announce a second closing of $900,000 (the "Second Closing") of its previously announced private placement of a minimum amount of $4 million and a maximum amount of $10 million. On September 30, 2010, the Company had proceeded with a first closing of $4,440,000. The Company also extends its private placement offering to December 10, 2010.
A total of 1,500,000 Class A Shares were issued at a price of $0.60 per share pursuant to the Second Closing. The shares issued are subject to a 4-month hold period from the date of closing. The net proceeds of this placement will be used to pursue the Company's growth objectives, mainly in the filtration sector, as well as for working capital purposes.
The offering is made pursuant to applicable exemptions from prospectus requirements for private placement and is subject to the usual conditions and the receipt of all required regulatory approvals, including acceptance of the Toronto Stock Exchange.
The securities offered have not been registered, and will not be registered, under the United States Securities Act of 1933, as amended, and may not be sold in the United States absent registration or an applicable exemption from the registration requirements.
This press release does not constitute an offer to sell or the solicitation of any offer to buy nor will there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such province, state or jurisdiction.
Profile
Noveko International Inc. offers innovative solutions in the
environmental and medical fields worldwide. Through its subsidiaries,
the Company specializes primarily in the following business segments:
the development, manufacturing and marketing of derivative products
from its patented antimicrobial filtration technologies, mainly air
filters, surgical masks and respirators, as well as other products with
antibacterial properties such as hand sanitizers - and the development,
manufacturing and marketing of medical equipment, primarily portable
real-time ultrasound scanners for use in human and veterinary medicine.
Certain statements set forth in this press release constitute
forward-looking statements. In some cases, these statements are
identified by the use of terms such as "may", "could", "might",
"intend", "should", "expect", "project", "plan", "believe", "estimate"
or other comparable variants. These statements are based on the
information available at the time they are written, on assumptions made
by management and on the expectations of management, acting in good
faith, regarding future events, including those relating to economic
conditions, fluctuations in exchange rates and operating expenses, and
the absence of unusual events entailing supplementary expenditures.
Although management considers these assumptions and expectations
reasonable based on the information available at the time they are
written, they could prove inaccurate. Forward-looking statements are
also subject, by their very nature, to known and unknown risks and
uncertainties such as those related to the industry, acquisitions,
labor relations, credit, key officers, supply and product liability.
The actual results of Noveko International Inc. could differ materially
from those indicated or underlying these forward-looking statements.
The reader is therefore recommended not to unduly rely on these
forward-looking statements. Forward-looking statements do not reflect
the potential impact of special items, any business combination or any
other transaction that may be announced or occur subsequent to the date
hereof. Unless otherwise required under securities laws, the Company
does not intend and undertakes no obligation to update or revise the
forward-looking statements.
For further information:
Chantal Vennat, Director,
Investor Relations and Corporate Communications
Noveko International Inc.
Tel: (514) 875-0606
http://www.noveko.com