Noveko International Inc. signed a Definitive Offer for a Strategic Acquisition in Taiwan

    EKO / TSX Venture Exchange

    MONTREAL, Feb. 4 /CNW Telbec/ - Noveko International Inc. ("Noveko" or
the "Company") announces that, further to the execution on January 10, 2008 of
a letter of intent to acquire Purer Life, a Taiwan-based company specializing
in the manufacture of filtration fabric, Noveko agreed with Purer and its
shareholders on the terms and conditions of such a transaction by way of a
Definitive Offer accepted today. Noveko will purchase, directly or through a
subsidiary, all the issued and outstanding shares of Purer Life and those of a
firm of the same group (collectively "Purer") for a total consideration of
CAN 2,500,000 plus the issue of 1,100,000 Class "A" Shares of Noveko. The
transaction will close no later than April 30, 2008 (or any other date agreed
to by the parties) subject to a full satisfactory due diligence, particularly,
in connection with the transfer, in full ownership, to Purer of all patents
and applications for patents linked with the business of Purer, the applicable
approvals, if any, of Taiwan investment authorities, and the approval of the
TSX Venture Exchange.
    Purer Life is majority owned by its two founders and officers -
Mr. Hung-Jen Chen and Ms. Kai-Li Huang - who have developed an original
patented weaving technology for the manufacture of a three-dimensional fibre
featuring a filtration effectiveness, solidity and durability that make it a
unique base material. Should the transaction close, the two current officers
are expected to continue holding key positions within Purer Life.
    Purer Life already does business with the subsidiary Noveko Inc. as
supplier of the filtration fabric used to manufacture Noveko(TM) antimicrobial
air filters.
    "We are very pleased to finalize the terms of this transaction that will
make possible the integrating of this designer and manufacturer into the
Noveko Group. Combining its weaving technology with our antimicrobial
filtration technology gives us with a winning protective formula that is
unique worldwide. Upon the closing of the transaction, we plan to relocate the
facility within its region in order to increase its production capacity. Our
goal is first to fully meet our own demand for raw materials, but also to tap
the great potential offered by the applications connected with the patents and
applications for patents of Purer." indicated André Leroux, Chairman of the
Board and Chief Executive Officer of Noveko International Inc.
    "This important strategic acquisition will enable us to further assure
and control the production of our antimicrobial air filters and to penetrate
new markets. The new applications connected with Purer's patents and
applications for patents combined with our antimicrobial filtration technology
will constitute a great advantage for Noveko," added Alain Bolduc, President
and Chief Operating Officer of Noveko.
    The Company's shares to be issued in this transaction will be subject to
the mandatory 4-month hold period.


    Noveko International Inc. currently has four subsidiaries: S.A.S. ECM,
Noveko Inc., Laboratoire SyMa Inc. ("SyMa") and Bolduc Leroux Inc. ("BLI").
ECM specializes in the design and marketing of portable real-time ultrasound
scanners for use in veterinary and human medicine. Noveko Inc. develops the
Company's biomedical and environmental business, specifically its patented
antimicrobial filtration technology and derivative products (Noveko(TM)
antimicrobial face masks and air filters). SyMa specializes in the manufacture
of sanitizers, more specifically the antimicrobial products (for hands, feet
and surfaces) sold under the Azuro(TM) trademark. For its part, BLI
specializes in the custom processing and distribution of steel products based
on client specifications and designs. It has also developed and markets a line
of downdraft particle extraction tables for various markets. Operating since
September 2002, the Company was listed on the TSX Venture Exchange on February
3, 2004.

    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,

Organization Profile

Noveko International Inc.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890