MONTREAL, May 24, 2012 /CNW Telbec/ - Noveko International Inc. (TSX: EKO) (the "Company") announces that Mr. Patrice Emery, the current President of its subsidiary, S.A.S. E.C.M. ("ECM") and a director of the Company, has informed the Company that a group to which he is a party (the "Purchasers' Group") intends to acquire all the shares of ECM at conditions to be determined. Consequently, Mr. Emery has submitted his resignation as director of the Company, which has accepted such resignation. He continues to act as President of ECM under the supervision of Mr. André Leroux, Chairman of the Board and Chief Executive Officer of the Company.
The Company wishes to point out that the Board of Directors has not made any decision as to the timeliness of selling ECM, although this possibility was part of the strategic valuation process announced on May 15, 2012. There can be no assurance that the Company would agree on the terms and conditions of a transaction with the Purchasers' Group. The Company retains the complete freedom to negotiate with both the Purchasers' Group and with any other party seeking to acquire ECM, or even not to sell ECM, and the Board of Directors will examine any proposal considering all the relevant circumstances.
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 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, 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 new circumstances.
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