Nuvolt Corporation Inc.

Nuvolt Corporation Inc.

July 13, 2010 14:53 ET

Nuvolt Corporation Closes Private Placement of Convertible Debentures

LEVIS, QUEBEC--(Marketwire - July 13, 2010) - Nuvolt Corporation Inc. (TSX VENTURE:NCO) ("Nuvolt") is pleased to announce that it has closed a first tranche of its previously announced private placement of 12% convertible debentures in the aggregate principal amount of $1,000,000 (the "Offering"). The first tranche is comprised of 12% convertible debentures in the aggregate principal amount of $800,000 due January 9, 2012 (the "Debentures"), of which $650,000 were subscribed by insiders of Nuvolt. The Debentures are convertible into common shares of Nuvolt (the "Shares") at a conversion rate of $0.20 per Share and, if fully converted, would convert into 4,000,000 Shares.

The Debentures are unsecured.

The TSX Venture Exchange has conditionally approved the Offering and the listing for trading of the Shares issuable upon conversion of the Debentures.

A second tranche of $200,000, will be completed on or before August 12, 2010

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.

The launching of the SMARTSCAN system, planned for fall, will have considerable impacts on the commercial and industrial markets. The SMARTSCAN has the ability to predict an electrical failure. It can prevent equipment breakdowns, so the downtime in the industry, but also the risks of fire. The SMARTSCAN is revolutionizing the monitoring of electrical networks and equipment.

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 CEO
    418-833-4055 (FAX)