BOUCHERVILLE, QC, June 27, 2012 /CNW Telbec/ - Noveko International Inc.
("Noveko") continues to refocus its activities in the air filtration
segment and is relinquishing its 70% interest in Noveko Algérie in
consideration for the reimbursement, at the date of closing, of all its
advances to Noveko Algérie, amounting to $1,400,000. As previously
announced on May 15, the funds generated by this assignment shall be
used to reduce Noveko's debt. This transaction is subject to the
approval of the Toronto Stock Exchange.
"Our decision to relinquish our interest in Noveko Algérie is consistent
with our strategy to refocus our activities in the air filtration
segment. We continue to work on growing Noveko's activities in this
promising market segment, and we are concentrating our energies towards
achieving this goal," declared Mr. André Leroux, Chairman of the Board
and CEO of Noveko. " By sticking with our strategy, we are also
improving our financial situation and reducing our debt," added Mr.
Noveko International Inc. offers innovative solutions in the
environmental and medical fields worldwide. Through its subsidiaries,
the Company specializes 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, notably hand sanitizers - and the
development, manufacturing and marketing of medical equipment,
including portable real-time ultrasound scanners for use in human and
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,
labour 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 to reflect new information, new events or
SOURCE NOVEKO INTERNATIONAL INC.
For further information:
Source : Noveko International Inc.
Senior Vice-President and Chief Financial Officer
Tel. (514) 875-0606 ext. 312