Artaflex Inc.
TSX VENTURE : ATF

Artaflex Inc.

August 29, 2012 17:21 ET

Artaflex Transactions with MTI and Kilmer Not to Proceed

TORONTO, ONTARIO--(Marketwire - Aug. 29, 2012) - Artaflex Inc. (TSX VENTURE:ATF) ("Artaflex") announced today that it delivered formal notice to MTI International, Inc. ("MTI") terminating its plan of merger and agreement dated as of July 17, 2012 with MTI (the "Acquisition Agreement") as Artaflex was unable to satisfy the condition precedent under the Acquisition Agreement of obtaining certain consents unrelated to MTI to complete the transaction by the agreed closing date. In a related announcement, the previously announced $15.3M financing package to be provided by Kilmer Capital Partners to Artaflex will not proceed.

About Artaflex:

Artaflex is a specialist at delivering integrated product solutions and support to the global technology and electronics industry. As a leading global provider of complete Electronics Manufacturing Services (EMS), Artaflex offers world class manufacturing facilities and global partners throughout Canada, the United States, Israel and China, allowing Artaflex to provide its customers the flexibility and scalability to competitively achieve total solutions to their present and future electronics outsourcing needs. Visit Artaflex at: www.artaflex.com.

THIS NEWS RELEASE MAY CONTAIN FORWARD-LOOKING STATEMENTS AND INFORMATION RELATING TO SUCH MATTERS AS EXPECTED FINANCIAL PERFORMANCE, BUSINESS PROSPECTS, TECHNOLOGICAL DEVELOPMENTS, DEVELOPMENT ACTIVITIES AND LIKE MATTERS. THESE STATEMENTS INVOLVE RISK AND UNCERTAINTIES, INCLUDING BUT NOT LIMITED TO RISK FACTORS DESCRIBED IN DOCUMENTS FILED WITH REGULATORY AUTHORITIES. ACTUAL RESULTS COULD DIFFER MATERIALLY FROM THOSE PROJECTED AS A RESULT OF THESE RISKS AND SHOULD NOT BE RELIED UPON AS A PREDICTION OF FUTURE EVENTS. THE CORPORATION UNDERTAKES NO OBLIGATION TO UPDATE ANY FORWARD-LOOKING STATEMENTS TO REFLECT EVENTS OR CIRCUMSTANCES AFTER THE DATE ON WHICH SUCH STATEMENT IS MADE, OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

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