LEVIS, QUEBEC — (Marketwire) — 12/30/11 — December 30, 2011. Nuvolt Corporation Inc. (“Nuvolt”) (TSX VENTURE: NCO) announces the deposit of its audited financial results for the fiscal year ended on August 31, 2011.
“The fiscal year turnover presents just a slight increase as compared to the previous year but the situation is positive whereas the efforts for the year were mainly devoted to raising capital in order to bring the SmartScan to its marketing phase” mentioned Jacques Dion, President and Chief Executive Officer. “The availability of cash coming from the transactions concluded at the end of the year will enable Nuvolt to strengthen its working capital in order to aggressively pursue sales in agriculture, industrial, maritime and real-estate markets. The Company has accelerated the implementation of the commitments disclosed in its business plan.” concluded Mr. Dion.
Highlights:
The annual financial statements and the management report may be consulted in the electronic data, analysis and research system (SEDAR), accessible at the following address: .
Finally, NUVOLT informs the public that its Annual Meeting will be held at 4 p.m. on February 23, 2012 at the offices of Langlois Kronstrom Desjardins Avocats located at 801, Chemin Saint-Louis, bureau 300, Quebec City, QC G1S 1C1. All shareholders are welcome to attend the meeting.
About Nuvolt Corporation Inc.
Nuvolt has developed a specialized expertise in the management of electrical failures, power quality, the detection and neutralization of leakage current, as well as electrical network monitoring systems.
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. 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.
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.
Contacts:
Jacques Dion CEO
(418) 833-0773
(418) 833-4055 (FAX)
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