Nuvolt Corporation Inc.

Nuvolt Corporation Inc.

November 15, 2010 17:03 ET

Corporation Nuvolt Announces an Extension of the Schedule of its Private Placement As Well As a Financing With Investissement Quebec

LEVIS, QUEBEC--(Marketwire - Nov. 15, 2010) - Nuvolt Corporation Inc. (TSX VENTURE:NCO) ("Nuvolt") announces that it has received TSX Venture Exchange conditional approval to an extension of the schedule of the on-going private placement until December 14, 2010. This private placement of $3M, announced on June 15, 2010, has of now allowed the issuance of 7 600 000 Units for a total proceeds of $760,000.

Also, Nuvolt announces that it has obtained a loan from Investissement Quebec, in the maximum amount of $450,000, from the Renfort Program, for the Stabilization and Recovery of Successful businesses. The loan bears interest at 12% annually and is repayable at the collection from the current private placement, exceeding the first $150,000 closed after October 29, 2010, or any other fund raising, or no later that June 20, 2011.

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.

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
    418-833-4055 (FAX)