Polyair Inter Pack Inc.

Polyair Inter Pack Inc.

May 01, 2009 15:21 ET

Polyair Inter Pack Inc. Announces Voluntary Delisting From Toronto Stock Exchange and Listing on NEX Board of the TSX Venture Exchange

TORONTO, ONTARIO--(Marketwire - May 1, 2009) - Polyair Inter Pack Inc. ("PPK" or the "Company") (TSX:PPK), a North American producer of protective packaging products, announced today that its common shares will be delisted from the Toronto Stock Exchange (the "TSX") at the close of business on Friday, May 1, 2009, and at such time its common shares will be listed on the NEX Board of the TSX Venture Exchange (the "NEX").

In connection with its debenture financing in December 2008, the Company disclosed that it had been informed by the TSX that it would, in the ordinary course, commence a de-listing review with respect to the Company's common shares. Subsequently, the Company's management determined that as a result of certain factors, including market conditions, the Company would not be able to satisfy all listing requirements of the TSX at the end of the review period. Accordingly, the Company applied to the TSX for a voluntary de-listing and to the NEX for a listing of the Company's common shares on the NEX.

The Company has been advised by the TSX that effective at the opening of business on Monday, May 4, 2009, the Company's common shares will be posted for trading on the NEX Board of the TSX Venture Exchange under the symbol "PPK.H".

Polyair Inter Pack Inc. (www.polyair.com) manufactures and distributes a wide range of protective packaging products and swimming pool solar covers in North America. The Company operates eight manufacturing facilities, seven of which are in the USA where it generates the majority of its sales. All above amounts are in US dollars, unless otherwise noted.

Certain information included in this news release contains statements that are forward-looking, such as statements relating to anticipated future revenues and profitability of the Company. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of Polyair Inter Pack Inc. In addition, Polyair Inter Pack Inc. expressly disclaims any obligation to publicly update or alter its previously issued forward-looking statements.

Contact Information

  • Polyair Inter Pack Inc.
    Stysia Reay
    Investor Relations