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Noveko International Inc. ("the Company") today announces that it has recently achieved significant breakthroughs in the swine market with its Noveko(TM) air filtration technology, namely orders to equip 11 hog farms in Quebec, first orders from Mexico and its participation in the initiatives of the renowned Swine Disease Eradication Center of the University of Minnesota.New Orders to Equip Several Hog Farms in Quebec and Breakthrough in Mexico
The Company has recently obtained orders to equip 11 hog farm sites in Quebec. These sales are made through Monitrol Inc. (Monitrol), a North American leader in control systems and ventilation management equipment for farm buildings. Monitrol acts as the exclusive distributor of the Noveko(TM) patented antimicrobial air filters for the hog and poultry market in North America. Based on the filter delivery schedule, the Company expects these orders to yield concrete results during the fiscal year ending June 30, 2009.
To maximize the effectiveness of the Noveko(TM) antimicrobial air filters, it is recommended that each farm replace the filter cartridges on average every two years, thereby providing the Company with a recurring source of revenues.
The Company also announces that through Monitrol, it has obtained its first antimicrobial air filter orders, valued at approximately $160,000, to equip hog farm sites in Mexico. These filters are scheduled to be delivered at the beginning of 2009. The Company expects to obtain additional orders from Mexico, this country being a significant hog producer.
"We are pleased that the agreement with Monitrol is bearing fruit. Added to those already filled from Ontario and Western Canada, these orders attest to the farming community's growing interest in our technology. Hog producers realize that they need to protect their herds from contamination by airborne pathogens and recognize that our solution is effective," said Mr. Alain Bolduc, President and Chief Operating Officer of the Company.
Conclusive Results of the Effectiveness Tests Conducted by Dr. Scott Dee
- The Company Will Participate in the Research and Development Initiatives of the Renowned Swine Disease Eradication Center of the University of Minnesota
During the Allen D. Leman Swine Conference held in Minneapolis last September, Dr. Scott Dee of the University of Minnesota publicly disclosed the conclusive results of his laboratory work aimed at assessing the effectiveness of the Noveko(TM) antimicrobial air filters in blocking the porcine reproductive and respiratory syndrome (PRRS) virus under extreme conditions.
The University of Minnesota hosted this annual event that brings together U.S. and Canadian swine industry leaders.
In addition to demonstrating the effectiveness of the Noveko(TM) air filters in blocking the transmission of the virus by filtration, Dr. Scott Dee's work also proved that the antimicrobial technology specific to the Company's air filters was able to inactivate the PRRS virus.
Dr. Scott Dee, also Director of the Swine Disease Eradication Center (SDEC), is a world-renowned authority in swine veterinary medicine whose career path and research work - notably on the PRRS - have earned him many honours and awards.
Mr. Alain Bolduc said: "Among the various air filter models recently tested by Dr. Dee, the marketed 10-layer Noveko(TM) air filtration technology stood apart as it not only prevented the transmission of active viruses, but also less restricted the passage of air." "The studies done on our air filters by Dr. Scott Dee and publicly disclosed at the Allen D. Leman Swine Conference corroborate the results of the tests conducted in Canada by Dr. Laura Batista of the Faculty of Veterinary Medicine of the Université de Montréal in cooperation with the CDPQ (Centre de développement du porc du Québec). Producers will thus more easily recognize that our solution is an important component of their biosafety programs. We therefore believe we are better positioned to penetrate this market in the United States with our systems that are well adapted to producers' needs and do not require any structural modifications to buildings - also an advantage in regard to costs," added Mr.
André Leroux, Chairman of the Board and Chief Executive Officer of the Company.
Considering these conclusive laboratory results, Dr. Dee recently invited the Company to participate on a permanent basis in his research on a farm scale. An experimental facility built by the Company, equipped with the Noveko(TM) air filtration technology and reproducing the natural conditions of a hog farm is now on-site at the SDEC in Appleton, Minnesota. The Company was delighted to accept the invitation which provides it with a unique opportunity to pursue, on an ongoing basis, the research and development on its filtration solutions in order to optimize them.
Mr. Scott Dee, Director of the SDEC, stated to be "very excited to have the opportunity to collaborate with Noveko on this research project to further demonstrate scientifically that the Noveko(MC) antimicrobial filters are providing the global swine industry with a solution against devastating airborne swine diseases."
The Company has also been invited to sit on the Industry Advisory Board of the SDEC. In addition to maintaining strong ties with several other university research programs and the American Association of Swine Veterinarians (AASV), the SDEC brings together key practitioners in the U.S. and Canadian swine industry. The Advisory Board was created to maximize the cooperation among these practitioners. The SDEC's primary objectives are to understand the pathogenesis and epidemiology of target diseases affecting hog farms in order to develop and validate strategies and techniques for their successful eradication. The Advisory Board has a mandate to provide input and critique on the SDEC's research progress, as well as insight on directions for new research initiatives. The Company is honoured to serve on this Board along with leading companies in the swine industry.
First Air Filter Deliveries Headed to the French Market
The exclusive distribution agreement in the French market with Geosane, an enterprise geared toward quality and safety in livestock production and public health, will yield its initial benefits in the quarter ending March 30, 2009. The first containers of antimicrobial air filters headed to the French market will leave China this month for France. Geosane has committed to purchase 8,000 Noveko(TM) antimicrobial air filtration systems. Delivery of the filters, initially scheduled to extend over an eight-month period, will instead extend over a period of approximately 12 months. Consequently, concrete results worth a total of over $2 million for the Company are expected to mostly materialize during the calendar year ending December 31, 2009. Geosane is also pursuing its market development in France and other European countries where several farms have shown an interest in Noveko(TM) antimicrobial filtration solutions.
Profile
Noveko International Inc. is a holding company listed on the Toronto Stock Exchange. Its subsidiaries specialize in the following business segments: the development and marketing of products in the biomedical and environmental fields, including face masks, air filters and other antimicrobial products - the development, manufacturing and marketing of medical equipment, primarily portable real-time ultrasound scanners for use in human and veterinary medicine - and the custom processing and distribution of steel products, including downdraft particle extraction tables.
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. The Company undertakes no obligation to update or revise the forward-looking statements to account for new events or new circumstances, except where provided for by applicable legislation.
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