Nuvolt Corporation Inc.
TSX VENTURE : NCO

Nuvolt Corporation Inc.

January 28, 2010 16:51 ET

Nuvolt Corporation Inc. Announces a Private Placement of a Maximum of $500,000

LEVIS, QUEBEC--(Marketwire - Jan. 28, 2010) - Mr. Jacques Dion, President and Chief Executive Officer of Nuvolt Corporation ("Nuvolt") (TSX VENTURE:NCO) announces its intent to complete a non-brokered private placement financing of up to 3,333,333 units (the "Units") at a price of $0.15 per Unit, for maximum proceeds of $500,000 (the "Placement"). Each Unit is comprised of one common share of Nuvolt and one warrant. Each warrant entitles the holder to acquire one common share of Nuvolt, at a price of $0.20 per share for a period of 36 months following the closing date. The Units will be subject to a four month hold period under applicable securities laws. The proceeds of the Placement will be used for general corporate purposes and to finance the initial phase of the commercial launching of SMARTSCAN. The Placement is subject to regulatory approval.

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.

Nuvolt has devoted a great deal of energy to and has made major investments in the development of the SMARTSCAN project. The SMARTSCAN system is a user-friendly product that can be distributed by independent distributors active in specialized sectors including the farming, commercial and industrial sectors.

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. There is no guarantee that the private placement will be completed as mentioned in this press release or that its terms will not be varied.

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.

Contact Information

  • Nuvolt Corporation Inc.
    Jacques Dion
    CEO
    418-833-0773
    418-833-4055 (FAX)