Press release from CNW Group
Noveko International Inc. - TSX's decision concerning delisting
Thursday, July 18, 2013
Noveko International Inc. - TSX's decision concerning delisting08:35 EDT Thursday, July 18, 2013
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.
For further information:
Chairman and Chief Executive Officer
Tel: (514) 875-0606