Noveko International to price C$10 million private placement of units

By Devika Patel

Knoxville, Tenn., Sept. 4 - Noveko International Inc. said it will conduct a private placement of units to raise about C$10 million.

The company will sell units of one class A common share and one half-share warrant at a price to be determined within the context of the market.

Proceeds will be used to fund the expansion of the company's international distribution networks, to develop its current intellectual property portfolio, to develop new innovative applications, to expand its production capacity and for working capital purposes.

Montreal-based Noveko designs and markets ultrasound scanners.

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