BOUCHERVILLE, QC, March 28, 2013 /CNW Telbec/ - Noveko International Inc. (TSX: EKO) (the "Corporation") is pleased to announce a first closing in connection with its private placement of a minimum of 5,333,333 Class A Shares ($320,000) and of a maximum of 8,333,333 Class A Shares ($500,000), at a price of $0.06 per share. A total number of 6,000,000 Class A Shares were subscribed for a total subscription price of $360,000, of which 5,433,333 Class A Shares ($326,000) were subscribed by Corporation's insiders. These 6,000,000 Class A Shares are subject to a 4-month holding period. Additional closings may occur until the maximum of 8,333,333 Class A Shares ($500,000) will have been subscribed for. The funds obtained through this private placement will fulfill our needs for working capital until the closing of our $10 to $12 million main financing.
Profile of the Corporation
The Corporation specializes in the air filtration segment by providing its clientele with innovative and eco-energetic filtration solutions. As such, through its subsidiaries, the Corporation notably designs, develops, manufactures and markets air filters incorporating its patented air filtration technologies, which filters are cleanable and recyclable, and have a much longer life span than conventional air filters. These filters are used in farm buildings, in institutional, commercial, industrial and residential buildings, and in the ground and aeronautics transport industry.
Through distributors, the Corporation furthermore continues to commercialize antimicrobial masks and respirators, hands sanitizers and 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, labor 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 Corporation does not intend and undertakes no obligation to update or revise the forward-looking statements.
SOURCE: NOVEKO INTERNATIONAL INC.
For further information:
Senior Vice-President and Chief Financial Officer
Tel: (514) 875-0606