MONTREAL, Aug. 31 /CNW Telbec/ - Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost efficient heat recovery equipment for traditional boilers, is pleased to announce the revocation effective August 31, 2010 of a management cease trade order ("CTO") issued by the Autorité des marchés financiers (the "AMF").
The CTO which only applied to management and insiders was previously issued by the AMF on February 19, 2010 for failure by the company to file in due time its annual financial statements as well as Management's Discussion and Analysis for the fiscal year ended on September 30, 2009 (the "financials"), which financials were filed by the company on April 5, 2010.
The Company did not apply earlier for revocation of its CTO based on its financial restructuring issues and in order to prevent any insider trading during the changes brought to the composition of its board of directors as well as the company's new executive team.
Sofame Technologies Inc. custom engineers and manufactures unique, high-efficiency direct-contact industrial hot water systems which extract up to 99 percent of heat from flue gases depending on the application, and return the energy in the form of high-temperature hot water or pre-heated make-up air. Sofame's products help hospitals, food processing plants, universities, central heating plants, utilities and many more large energy consumers to significantly reduce fuel costs and greenhouse gas emissions. Using world-leading, patented green technology, Sofame serves industrial, institutional and commercial markets through a network of dedicated engineering representatives. For more information, visit www.sofame.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.
SOURCE Sofame Technologies Inc.
For further information: For further information: Brian Edelstein, Stone Communication Services, (416) 867-2536, email@example.com, www.stoneco.com