Closing of the Acquisition of SARL NOVEKO ALGERIE
EKO / TSX Venture Exchange
MONTREAL, July 18 /CNW Telbec/ - Noveko International Inc. ("Noveko") is
pleased to announce that its subsidiary Noveko Inc., which develops biomedical
and environmental products derived from its patented antimicrobial filtration
technology (Noveko(TM) antimicrobial face masks and air filters), has just
obtained ISO 13485 international certification.
This certification attests that Noveko Inc. fully complies with the
requirements of the international standards for medical devices, in terms of
quality of design, manufacturing and distribution of Noveko(TM) antimicrobial
face masks, as audited by BSI Management Systems America, Inc.
"We are very pleased to have obtained this international certification
for our Noveko(TM) antimicrobial face masks. Combined with the CE marking
obtained by Noveko Inc. on July 10, 2008, indicating that our masks comply
with the requirements of the European Directives in regard to public health,
safety and consumer protection, the ISO 13485 standard represents strong
quality assurance for our markets and will definitely help further our
development of international markets," indicated André Leroux, Chairman of the
Board and Chief Executive Officer of Noveko.
Closing of the acquisition of SARL Noveko Algérie
Noveko also announces the closing of the acquisition of all the issued
and outstanding shares of SARL Noveko Algérie ("Noveko Algérie"), a medical
equipment import company located in Zéralda Alger, Algeria, which covers the
Maghreb and Middle East markets. Noveko Algérie was owned 50% by Mourad
Ramdane, President and 50% by BLT Capital Inc., itself equally held by André
Leroux, Chairman of the Board and Chief Executive Officer of Noveko, Alain
Bolduc, President and Chief Operating Officer of Noveko, and Jacques Tessier.
The transaction was settled by way of 240,000 Class A shares of Noveko,
at $3.82 per share, i.e. the trading price at the close of the markets on
July 16, 2008. These shares were distributed equally between Mourad Ramdane
and BLT Capital Inc. All the Class A shares issued pursuant to this
transaction are subject to a standard four-month holding period.
Mourad Ramdane will continue to act as President of Noveko Algérie,
within the Noveko Group. Noveko's Board of Directors granted options to
Mr. Ramdane, allowing him to acquire 200,000 Class A shares of Noveko, at
$3.82 per share, subject to the terms of Noveko's Stock Option Plan. In
addition, pursuant to this transaction, Noveko paid a finder's fee by way of
16,800 Class A shares of Noveko at $3.82 per share.
Noveko International Inc. is a public holding company. Currently, its
operating subsidiaries are S.A.S. ECM, Noveko Inc., Laboratoire SyyMa Inc.,
Bolduc Leroux Inc., Magnum Pharmaceutics Inc., Unitam International Management
Corporation Inc. and Noveko Algérie. ECM specializes in portable real-time
ultrasound scanners for veterinary and human medicine. Noveko Inc. develops
biomedical and environmental products derived from its patented antimicrobial
filtration technology (Noveko(TM) antimicrobial face masks and air filters).
SyMa specializes in sanitizers, sold under the Azuro(TM) brand. Magnum acts as
a manufacturer sales agent for the Noveko Group's biomedical and environmental
products and sanitizers and for other manufacturers. Unitam is an
international business development service agency established in North America
and Asia. Noveko Algérie is a medical equipment import company covering the
Maghreb and Middle East markets. BLI is involved in the custom processing and
distribution of steel products based on client specifications.
The information set forth in this press release includes certain
forward-looking statements. Such statements are based on assumptions exposed
to major risks and uncertainties. Although Noveko deems the expectations
reflected in these forward-looking statements to be reasonable, the Company
cannot provide any guarantee as to the materialization of the expectations
reflected in these forward-looking statements. The TSX Venture Exchange and
the Toronto Stock Exchange have not reviewed and do not accept responsibility
for the adequacy or accuracy of this release.
For further information:
For further information: André Leroux, Chairman of the Board and Chief
Executive Officer; Alain Bolduc, President and Chief Operating Officer, Noveko
International Inc., (514) 344-3030; http://www.noveko.com