Newlook Industries Corp.
TSX VENTURE : NLI

Newlook Industries Corp.

February 08, 2010 13:13 ET

Newlook Confirms Discussions With Copernic

TORONTO, ONTARIO--(Marketwire - Feb. 8, 2010) - Newlook Industries Corp. ("Newlook" or the "Company") (TSX VENTURE:NLI) confirms that discussions have occurred between the Company, Copernic, Inc. ("Copernic") and 220872 Ontario Inc. ("220872 Ontario") with regard the Company's involvement in a previously announced private placement transaction between 220872 Ontario and Copernic.

Copernic, Inc. is a public company listed on NASDAQ and 220872 Ontario is a private entity investment vehicle represented by the Company's CEO, Mr. John Simmonds.

Pursuant to the discussions, which have yet to be formalized or completed due to the requirement for securities regulator, disinterested director and potentially shareholder approval, includes Sunbay Energy Corp. ("Sunbay Energy") and PowerPlay Energy Corp. (collectively the "Sunbay Group"), entities associated with the Company's proposed new waste to energy business focus. As of January 31, 2010, although a series of discussions have taken place between the Company and the Sunbay Group, Newlook does not hold any equity ownership in Sunbay Energy. Newlook, however, has provided a secured investment loan to a subsidiary of Sunbay Energy.

Sunbay Energy has specific rights in a Developer Agreement with an original equipment manufacturer to co-develop plasma gasification projects in Canada, but does not hold a specific exclusive for the associated plasma torch technology. Sunbay Energy has publicly announced active developments in two Canadian cities with several other similar projects currently in negotiations.

In addition, the Company also confirms that Mr. John Simmonds is Chairman of the Board, Chief Executive Officer and a significant shareholder of Newlook.

As discussions proceed and approval requirements are met, the Company will provide further clarification of the outcome.

Newlook Industries Corp., headquartered in King City, Ontario is a publicly traded company listed on the TSX Venture Exchange.

For more information please call (416) 833-0072 or refer to www.sedar.com.

The management of the company, who take full responsibility for its content, prepared this press 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.

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

  • Newlook Industries Corp.
    John G. Simmonds
    Chief Executive Officer
    (905) 833-0072 x223