LEVIS, QUEBEC--(Marketwire - Jan. 17, 2013) - Nuvolt Corporation Inc. ("Nuvolt" or the "Corporation") (TSX VENTURE:NCO) announces that the Corporation will give effect to the consolidation of its common shares on the basis of ten (10) pre-consolidation common shares for one (1) post-consolidation common share and that the post-consolidation common shares will commence trading on the TSX Venture Exchange at the opening of markets this Friday, January 18, 2013 under the current symbol "NCO" and new CUSIP number 67073J303.
Nuvolt shareholders authorized the consolidation at the shareholders' special meeting held on December 18, 2012.
The 146,884,574 pre-consolidation common shares issued and outstanding will be consolidated into approximately 14,688,457 post-consolidation common shares. If, as a result of the consolidation, a shareholder would otherwise be entitled to a fraction of a post-consolidation common share, the number of post-consolidation common shares will be rounded to the nearest whole number. The Corporation's currently outstanding stock options and warrants will be adjusted on the same basis with proportionate adjustments being made to the stock option and warrant exercise prices.
Nuvolt mailed letters of transmittal to the registered holders of its common shares, requesting that they forward their pre-consolidation common share certificates to the Corporation's transfer agent for exchange for new common share certificates representing their common shares on a post-consolidation basis.
About Nuvolt Corporation Inc.
Nuvolt has developed a specialized expertise in the monitoring and the management systems for electrical failures, power quality, the detection and neutralization of leakage current for the agriculture, maritime, commercial and industrial markets. SmartScan is now available to the agriculture market. The SmartScan system has the ability to predict an electrical failure on equipment and electrical networks. It could prevent equipment failures and production downtime on production assembly lines and commercial buildings and also fire risks. The ShipScan, for the maritime market, and the SmartScan Pro, for the industrial market were launched in September 2012.
Certain statements contained in this press release constitute forward-looking information. Such statements are based on the current expectations of management. You are cautioned that such statements can be subject to a multitude of risks and uncertainties that could cause actual results, future circumstances or events to differ materially from those projected in the forward-looking information. The reader should not place undue reliance on the forward-looking information included in this press release given that (i) actual results could differ materially from a conclusion, forecast or projection in the forward-looking information, and (ii) certain material factors or assumptions were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking information could prove to be inaccurate. There is no guarantee that the proposed private placement can be completed on the terms described in this press release. These statements speak only as of the date they are made, and Nuvolt assumes no obligation to revise such statements as a result of any event, circumstance or otherwise, except in accordance with law.