30 Jul 2009 10:44 ET
MarketwireNuvolt Corporation Inc.July 30, 2009 - 10:44:45 AMNuvolt Corporation Inc. Announces a Private Placement of a Maximum of$1,775,000LEVIS, QUEBEC--(Marketwire - July 30, 2009) - Mr. Jacques Dion, President andChief Executive Officer of Nuvolt Corporation ("Nuvolt") (TSX VENTURE:NCO)announces its intent to complete a non-brokered private placement financing ofup to 11,833,333 units (the "Units") at a price of $0.15 per Unit, for maximumproceeds of $1,775,000 (the "Placement"). Each Unit is comprised of one commonshare of Nuvolt and one warrant. Each warrant entitles the holder to acquireone common share of Nuvolt, at a price of $0.15 per share for a period of 36months following the closing date. The Units will be subject to a four monthhold period under applicable securities laws. The proceeds of the Placementwill be used for general corporate purposes and to complete and marketNuvolt's new SMARTSCAN technology. The Placement is subject to regulatoryapproval.Based on current indications, Nuvolt expects that a minimum of 6,833,333 Unitswill be subscribed by members of its board of directors and their affiliates,for proceeds of $1,025,000.About Nuvolt Corporation Inc.Nuvolt specialises in designing and marketing equipment monitoring systems andelectrical network management for the industrial, commercial and agriculturalsectors.Its main products are the Agrivolt System, an electrical network managementsystem for dairy, pig and poultry farms, Agrivolt Filters, to controlelectronic noise in agricultural and commercial applications and RELAX, a farmequipment monitoring system.Nuvolt is also following through with the development of SMARTSCAN, a highlyinnovative monitoring system which can prevent electrical failures onelectrical networks in the industrial, commercial and agricultural sectors.Certain statements contained in this press release constitute forward-lookinginformation. Such statements are based on the current expectations ofmanagement. You are cautioned that such statements can be subject to amultitude of risks and uncertainties that could cause actual results, futurecircumstances or events to differ materially from those projected in theforward-looking information. The reader should not place undue reliance onthe forward-looking information included in this press release given that (i)actual results could differ materially from a conclusion, forecast orprojection in the forward-looking information, and (ii) certain materialfactors or assumptions were applied in drawing a conclusion or making aforecast or projection as reflected in the forward-looking information couldprove to be inaccurate. These statements speak only as of the date they aremade, and Nuvolt assumes no obligation to revise such statements as a resultof any event, circumstance or otherwise, except in accordance with law. Thereis no guarantee that the private placement will be completed as mentioned inthis press release or that its terms will not be varied.FOR FURTHER INFORMATION PLEASE CONTACT: Nuvolt Corporation Inc. Jacques Dion, CEO 418-833-0773 418-833-4055 (FAX) Neither TSX Venture Exchange nor its Regulation Services Provider (as thatterm is defined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release. |