LEVIS, QUEBEC -- (Marketwire) -- 12/27/12 -- Nuvolt Corporation Inc. ("Nuvolt") (TSX VENTURE: NCO) announces the filling of its quarterly financial statements, for the first quarter of the fiscal year 2012-2013, ended November 30, 2012.
"We are proud to present an important increase in sales as compared to the same quarter of the previous year." says Mr. Jacques Dion, President and Chief Executive Officer. "Nuvolt's participation to the Legacy Farm project in Indiana filled a significant part of sales. The electrical network analysis performed in eighteen farms, including ten in the U.S., have also contributed to the increase. New products SmartScan Pro and ShipScan have recently been launched to the market. The different collaboration agreements concluded during the quarter will allow us to continue our commercial momentum for these products in new target markets." concludes Mr. Dion.
-- Turnover increased by 27% for the quarter, as compared to the same quarter of last fiscal year;-- First orders of SmartScan Pro system delivered to customers, including one to St. Lawrence Stevedoring for an expansion project ;-- Technical validation underway at Unidindon, subsidiary of Olymel;-- A SmartScan Pro has been installed in a building of Cominar Real Estate Investment Trust to adapt the system to the needs of commercial buildings owners.
The quarterly financial statements and the management report can be view on the System for Electronic Documents Analysis and Retrieval (SEDAR), available at www.sedar.com.
Moreover, Nuvolt announces that, on its general meeting held on December 18, 2012, the shareholders approved a special resolution authorizing an amendment to the Articles of the Corporation so as to consolidate the common shares of the Corporation on the basis of one new common share for every ten common shares issued and outstanding. The share consolidation is subject to the approval of the TSX Venture Exchange and will be effective on or about January 7, 2013.
About Nuvolt Corporation Inc.
Nuvolt has developed a specialized expertise in the monitoring and the management systems for electrical failures, power quality, the detection and neutralization of leakage current for the agriculture, maritime, commercial and industrial markets. SmartScan is now available to the agriculture market. The SmartScan system has the ability to predict an electrical failure on equipment and electrical networks. It could prevent equipment failures and production downtime on production assembly lines and commercial buildings and also fire risks. The ShipScan, for the maritime market, and the SmartScan Pro, for the industrial market were launched in September 2012.
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. There is no guarantee that the proposed private placement can be completed on the terms described in this press release. 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.
Jacques Dion CEO
(418) 833-4055 (FAX)