Newlook Provides Corporate Update
October 25 2010 - 3:42PM
Marketwired
Newlook Industries Corp. ("Newlook" or the "Company") (TSX VENTURE:
NLI) wishes to provide an update on various corporate matters.
On September 1, 2010, the Ontario Securities Commission revoked
a cease trade order ("CTO") that was originally imposed on the
Company due to the late filing of its financial statements, which
were brought up to date during August 2010. Subsequently, the
Company initiated the reinstatement review process with the TSX
Venture Exchange ("TSXV") in order to recommence trading of its
shares, which had been suspended on July 2, 2010 as a result of the
CTO. The reinstatement process has been ongoing, and the Company
will continue working with the TSXV in this regard.
On June 7, 2010, Newlook announced its intent to acquire the
Fanotech Manufacturing Group. This transaction will not be executed
with the Company as originally intended. Additionally, a
transaction to acquire a stake in Vecture Inc. as announced on
April 15, 2010, will no longer proceed. Newlook will continue to
keep the market informed of any material corporate developments as
they occur.
Newlook Industries Corp., headquartered in King City, Ontario is
a publicly traded company listed on the TSX Venture Exchange. For
more information please call (905) 833-3072 or refer to
www.sedar.com.
The management of the company, who take full responsibility for
its content, prepared this press release. Neither TSX Venture
Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. This
press release contains forward-looking statements relating to
future events and results that are based on Newlook's current
expectations. These statements involve risks and uncertainties
including, without limitation, Newlook's ability to successfully
develop and market its products, consumer acceptance of such
products, competitive pressures relating to price reductions, new
product introductions by third parties, technological innovations,
and overall market conditions. Consequently, actual events and
results in future periods may differ materially from those
currently expected.
Contacts: Newlook Industries Corp. John G. Simmonds Chief
Executive Officer (905) 833-3072 x223
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