BOUCHERVILLE, QC, July 18, 2013 /CNW Telbec/ - Noveko International Inc.
(the "Corporation") announces it has been informed by the Continued
Listings Committee of the Toronto Stock Exchange of its decision to
delist from the TSX the Corporation's Class A Shares at the close of
market on August 19, 2013 for failure to meet the continued listing
requirements of the TSX.
The Corporation is evaluating if it will appeal this decision and the
possible trading alternatives on another exchange or market. No
guarantee can be provided by the Corporation that it will able to meet
the requirements of any other such exchange or market.
"Of course, we are disappointed by this decision without being totally
surprised by it given the listing review began in mid-February and 150
days have since passed which is 30 days more than the maximum period of
120 days normally allotted to correct the situation. It was obvious for
us that the closing of our anticipated $10 million financing was a
necessary condition to maintain our listing; we are confident that such
financing will soon be completed. In the meantime, we intensify our
commercialization efforts in the air filtration sector. In that regard,
the growing interest of building owners and managers for our filtration
solutions constitutes for us a source of great pride and promise for
the future despite our difficult financial position" declared Mr. André
Leroux, Chairman and Chief Executive Officer of the Corporation.
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.
