Newlook Confirms Discussions With Copernic
08 Février 2010 - 7:13PM
Marketwired
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.
Contacts: Newlook Industries Corp. John G. Simmonds Chief
Executive Officer (905) 833-0072 x223
Newlook Industries Corp (TSXV:NLI)
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