|Bid||1.05 x 0|
|Ask||1.20 x 0|
|Day's Range||1.05 - 1.05|
|52 Week Range||0.99 - 1.75|
|Beta (3Y Monthly)||0.40|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 29, 2018 - Dec 3, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||2.00|
OTCQX: OLNCF) is pleased to announce today the completion of its previously announced acquisition of Monzite Corporation (“Monzite”). Concurrent with the closing of the transaction, David Robbins, CEO of Omni-Lite, has joined the Company’s Board of Directors. “We’re enthusiastic about the completion of this strategic transaction and welcome the Monzite team to the Omni-Lite family. With David Robbins and Carl Lueders joining the Company in late August 2018 as CEO and CFO, respectively, we have begun in earnest the seamless integration of our respective talents and capabilities, and we are confident that David will be instrumental in driving revenue and earnings growth and creating long-term shareholder value,” said Chuck Samkoff, on behalf of the Board of Directors of Omni-Lite.
The Company is also pleased to announce today that it has signed a definitive agreement to acquire Monzite Corporation (“Monzite”), a private company based in Nashua, New Hampshire. Concurrent with execution of the definitive agreement (the “Merger Agreement”), David Robbins, the CEO and principal shareholder of Monzite, has been appointed CEO of Omni-Lite. Mr. Robbins will also be nominated as a Director, taking effect as of the closing date of the acquisition.
Omni-Lite Industries Canada Inc. (the “Company”) (OML.V) (OLNCF) is pleased to announce today that it received a new follow-on order valued in excess of US$850,000 from one of its long-standing US defense customers in support of a multi-year, strategic US military program. Including this recent order, the Company has received new contract orders valued in excess of US$1.6 million since our last press release on May 20, 2018. “This brings our year-to-date value of the new orders announced to over US$4.2 million,” stated Allen W. Maxin, President. “Equally important, the Company’s year-to-date book-to-bill ratio equated to excess of 1.3, and our aggregated bookings over this time period represented a 19% increase over our bookings from the comparable year ago period,” stated Joe Hachadoorian, V.P. Business Development and Sales.