Covalon Technologies Ltd.

Covalon Technologies Ltd.

June 19, 2008 14:40 ET

Covalon Technologies Ltd. Selected as One of the TSX Venture's 50 Top Performers for the Second Consecutive Year

MISSISSAUGA, ONTARIO--(Marketwire - June 19, 2008) - Covalon Technologies Ltd. (the "Company" or "Covalon") (TSX VENTURE:COV) announced that it has been selected for the second year, consecutively, as one of the top 50 companies on the TSX Venture exchange.

Dr. Frank DiCosmo, President and CEO said: "I am delighted that for the second year, Covalon is among a group of top-ranked companies recognized by the TSX Venture as a "2008 TSX Venture 50" company. The recognition is a direct result of exceptional efforts by staff, management and the Board of Directors in designing, implementing, and sustaining a comprehensive plan, which supports the creation of a deep pipeline of advanced healthcare solutions for our customers. The TSX Venture continues to provide companies like Covalon a positive environment from which we can build strong shareholder value. We are very pleased and excited to once again receive this honour."

Brad Williams, Chairman of the Board commented: "We are pleased to have delivered another record year and be recognized by the TSX Venture and our shareholders as the best of the best for the second consecutive year. Our dedicated team of employees, with guidance and support from our Board of Directors, continue to deliver outstanding results and new growth opportunities for our Company. We are focused on discovering new technology and delivering exceptional results for our shareholders in the quarters ahead of us."

About the 2008 TSX Venture 50

The TSX Venture 50 are the top 10 companies in each of five major industry sectors - mining, oil & gas, technology & life sciences, diversified industries and clean tech - based on a ranking formula with equal waiting given to one-year revenue (last reported 12 months), return on investment, market cap growth and trading volume. All data was as of December 31, 2007.

The "2008 TSX Venture 50" will be published and widely distributed in The Globe and Mail on Thursday, June 19th, 2008.

About Covalon

Covalon Technologies Ltd. is a company with advanced medical products that has developed and patented advanced therapeutic biomaterials for wound care and surgical applications and coatings. Polymer chemistry and surface coating technology have been combined to create a range of time-release drug delivery platforms that are applied to many medical devices to treat many critical conditions. A variety of applications for these technologies have been identified and specific products have been developed. The products offer features and benefits providing solutions to many of the problems caused by current devices and their material properties which are used by most medical device manufacturers and suppliers. The problems include infection, poor biocompatibility, and microbial attachment.

This document contains forward-looking statements. These statements relate to future events or future performance. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue" or the negative of any of these terms or comparable terminology. Such statements reflect the current views of management of the Company with respect to future events. Actual events or results may differ materially. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has neither approved nor disapproved of the contents of this release.

Contact Information

  • Covalon Technologies Ltd.
    Frank DiCosmo, Ph.D.
    President & CEO
    (905) 568-8400
    (905) 568-5200 (FAX)
    Covalon Technologies Ltd.
    Francis K. Lindayen, C.A.
    (905) 568-8400
    (905) 568-5200 (FAX)