BOUCHERVILLE, QC, Jan. 11, 2013 /CNW Telbec/ - Noveko International Inc.
(TSX: EKO) (the "Corporation") is pleased to announce that it intends
to proceed with the private distribution of units, at a price of $0.12
per unit, for a minimum amount of $100,000 (833,333 units) and a
maximum amount of $500,000 (4,166,667 units), each unit comprising one
(1) Class A Share and one-half warrant; each full warrant will entitle
its holder to purchase one (1) Class A Share at a price of $0.20 per
share, for a period of 24 months after the issue of the units. The
securities issued pursuant to this offering will be subjected to a
4-month hold period. This financing is conditional to the approval of
the TSX.
Proceeds of this financing will be used to fund the Corporation's
ongoing operations prior to the closing of the financing initially
announced on November 14, 2012, which is currently anticipated to close
before the end of January 2013. It will take the form of term loans and
convertible debentures for an aggregate minimum amount of $10 million
and for an aggregate maximum amount of $12 million. This last financing
shall be used among other things to reimburse the credit facility and
the secured convertible debentures granted or issued pursuant to the
September 2011 financing by Third Eye Capital Corporation (the "TEC
Financing"). The Corporation is in breach of the provisions of the
agreements governing the TEC 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 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.
