Noveko International Announces First Closing of its Private Placement
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MONTREAL, April 29 /CNW Telbec/ - Noveko International Inc. (TSX: EKO) (the "Company") announces a first closing of $595,104 of its private placement. Additional closings are expected until May 23, 2011.
Pursuant to this first closing, 850,148 Class A shares were issued and an additional 425,074 Class A shares may be issued upon due exercise of the Warrants. The securities issued pursuant to this private placement are subject to a mandatory four-month hold period.
"We remain confident we will achieve our financing objectives as the offering extends until May 23rd. Although the results of this first closing are below our expectations, ongoing and upcoming developments, especially in the area of our air filtration solutions and ultrasound scanners for use in human and veterinary medicine, continue to attract the market's growing interest," indicated Mr. André Leroux, Chairman of the Board and Chief Executive Officer of the Company.
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.
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