MISSISSAUGA, ON, Sept. 27, 2013 /CNW/ - Covalon Technologies Ltd. (the
"Company" or "Covalon") (TSXV: COV), an advanced medical technologies
company, today announced that it has received final approval from the
TSX Venture Exchange for its previously announced non-brokered private
placement comprised of 750 units (the "Units") at a price of $1,000 per
Unit for gross proceeds of $750,000, which was announced on August 16,
The Company also announced that, subject to regulatory approval, Covalon
has granted 309,500 stock options ("options") to directors, officers
and staff of the Company. The options issued to directors and officers
have an exercise price of $0.85 per common share, will vest over the
next three years and are valid for a period of five years from the date
of grant. The options were granted in accordance with the Company's
stock option plan re-approved by shareholders on June 13, 2013.
Covalon Technologies Ltd. researches, develops and commercializes new
healthcare technologies that help save lives around the world.
Covalon's patented technologies, products and services address the
advanced healthcare needs of medical device companies, healthcare
providers and individual consumers. Covalon's technologies are used to
prevent, detect and manage medical conditions in specialty areas such
as wound care, tissue repair, infection control, disease management,
medical device coatings and biocompatibility. To learn more about
Covalon, visit our website at www.covalon.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements which reflect the
Company's current expectations regarding future events. The
forward-looking statements are often, but not always, identified by the
use of words such as "seek", "anticipate", "plan, "estimate", "expect",
"intend" and statements that an event or result "may", "will",
"should", "could" or "might" occur or be achieved and other similar
expressions. These forward-looking statements involve risk and
uncertainties, including the difficulty in predicting product
approvals, acceptance of and demands for new products, the impact of
the products and pricing strategies of competitors, delays in
developing and launching new products, the regulatory environment,
fluctuations in operating results and other risks, any of which could
cause results, performance, or achievements to differ materially from
the results discussed or implied in the forward-looking statements.
Many risks are inherent in the industry; others are more specific to
the Company. Investors should consult the Company's ongoing quarterly
filings for additional information on risks and uncertainties relating
to these forward-looking statements. Investors should not place undue
reliance on any forward-looking statements. The Company assumes no
obligation to update or alter any forward-looking statements whether as
a result of new information, further events or otherwise.
SOURCE: Covalon Technologies Ltd.
For further information:
CEO, Covalon Technologies Ltd.
Phone: 905.568.8400 x 233
Toll free: 1.877.711.6055
Web site: www.covalon.com