Newlook Industries Corp.
CNSX : NLI

Newlook Industries Corp.

August 31, 2011 10:05 ET

Newlook Completes Sale of Shares of Wireless Age

TORONTO, ONTARIO--(Marketwire - Aug. 31, 2011) - Newlook Industries Corp. ("Newlook" or the "Company") (CNSX:NLI) today announced that it has completed the sale of its equity interest in Wireless Age Communications Inc., reducing Newlook's position to zero. As a result, Newlook sold a total of 23,132,457 shares of Wireless Age Communications, Inc. owned by Newlook Industries Corp at $0.08 per share. The quarter ending September 30, 2011 will reflect the deconsolidation of the ownership interest between both companies.

John Simmonds & Family acquired approximately 5.4M shares and approximately 13.2M shares were acquired by twenty three (23) separate investors including Directors, Advisory Board Members and Senior Management, and some of their respective Family Trusts. The divesture of the shares in each company will enable the company's to pursue the business sectors they are each involved in.

The business of Newlook Industries will be restricted to the manufacturing and deployment of Waste Retrieval and Transportation Equipment from the curb side collection and large bin containers of residential and commercial waste to that point wherein it is disposed of or treated for the purpose of converting waste to energy. The company is also engaged in providing services through the various stages of that process, and is actively involved in responding to Request For Proposals from many private companies and all levels of government. To date, the company has successfully secured numerous contracts, including the manufacturing and deployment of state of the art Waste Retrieval Vehicles and systems to large Canadian municipalities and Regions.

Newlook Industries Corp., headquartered in King City, Ontario is a publicly-traded company listed on the Canadian National Stock Exchange (CNSX). For more information please refer to www.sedar.com. The management of the company, who take full responsibility for its content, prepared this press release. The CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this release. This press release contains forward-looking statements relating to future events and results that are based on Newlook's current expectations. These statements involve risks and uncertainties including, without limitation, Newlook's ability to successfully develop and market its products, consumer acceptance of such products, competitive pressures relating to price reductions, new product introductions by third parties, technological innovations, and overall market conditions. Consequently, actual events and results in future periods may differ materially from those currently expected.

Contact Information

  • Newlook Industries Corp.
    John G. Simmonds
    Chief Executive Officer
    (905) 833-3072 x223