EKO / TSX Venture Exchange
MONTREAL, July 11 /CNW Telbec/ - Noveko International Inc. ("Noveko")
announces the closing of the acquisition of all the shares of Unitam
International Management Corporation Inc. ("Unitam"), an international
business development service agency established in North America and Asia -
with which Noveko had entered into a strategic partnership in January 2007.
The purchase price of the transaction was paid through a payment of CA$250,000
plus the issuance of 500,000 Class A Shares of Noveko at the trading price per
share at the close of the markets on July 9, 2008. All such Class A shares are
subject to a standard four-month holding period.
"We are pleased to integrate Unitam into our Group and thus strengthen
our international business development with a team of experienced
professionals who have developed an extensive network of contacts and acquired
an in-depth knowledge of various markets targeted by our subsidiaries,"
indicated André Leroux, Chairman of the Board and Chief Executive Officer of
The Board of Directors has also approved the granting of options
entitling Mr. Gary Chen, as President of Unitam, to acquire, subject to the
terms of the Noveko's Stock Option Plan, 200,000 Class A Shares, at a price of
$3.98 per share.
Unitam International Management Corporation Inc.
Unitam is an international business development service agency
established in North America and Asia. Representing North American companies
in Asia and Asian companies in North America, Unitam has created a
multidisciplinary team of multilingual professionals geared to help clients
seeking to establish themselves in foreign markets. While specializing in Asia
and North America, Unitam has developed business relationships and acquired an
in-depth knowledge of various markets around the world. With teams working
closely together across several continents and an extensive international
network of business contacts, Unitam offers unique advantages in transactions
and has a successful track record of mergers and acquisitions, manufacturing
agreements and sales and distribution contracts.
Noveko International Inc. is a public holding company. Currently, its
operating subsidiaries are S.A.S. ECM, Noveko Inc., Laboratoire SyMa Inc.,
Bolduc Leroux Inc. and Magnum Pharmaceutics Inc. 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.
BLI is involved in the custom processing and distribution of steel products
based on client specifications. Magnum acts as a manufacturer sales agent for
the Noveko Group's biomedical and environmental products and sanitizers and
for other manufacturers.
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 has
not reviewed and does 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