Published on April 30, 2011 at 12:18 AM
Noveko International Inc. (TSX: EKO) (the "Company") announces a first closing of $595,104 of its private placement. Additional closings are expected until May 23, 2011.
Pursuant to this first closing, 850,148 Class A shares were issued and an additional 425,074 Class A shares may be issued upon due exercise of the Warrants. The securities issued pursuant to this private placement are subject to a mandatory four-month hold period.
"We remain confident we will achieve our financing objectives as the offering extends until May 23rd. Although the results of this first closing are below our expectations, ongoing and upcoming developments, especially in the area of our air filtration solutions and ultrasound scanners for use in human and veterinary medicine, continue to attract the market's growing interest," indicated Mr. André Leroux, Chairman of the Board and Chief Executive Officer of the Company.
The securities offered have not been registered, and will not be registered, under the United States Securities Act of 1933, as amended, and may not be sold in the United States absent registration or an applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of any offer to buy nor will there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such province, state or jurisdiction.
Source: NOVEKO INTERNATIONAL INC.