WINNIPEG, Jan. 5, 2018 /CNW/ - Novra Technologies Inc.
("Novra") (TSX-V: NVI) announces that it has completed the
acquisition of the 51% controlling interest of Wegener Corporation
("Wegener") effective December 29,
2017, after concluding a successful debt restructuring with
Wegener's major secured creditor.
Harris Liontas, President and CEO
stated, "I'm very pleased that we have closed the first phase of
the two-step approach for acquiring 100% of Wegener. I am
also thrilled that Wegener's major secured creditor believes in our
vision and strategy. Subject to completing the remaining 49%
acquisition by December 31, 2019, the
restructured debt with this secured creditor will be extended up to
eight years with flexible repayment terms at a low financing
cost."
About Novra Technologies Inc.:
Novra (TSX-V: NVI) is an international technology provider of
products, systems and services for the distribution of multimedia
broadband content. Novra's applications focus includes:
broadcast video and radio, digital cinema, digital signage, and
highly reliable data communications.
For more information visit: www.novragroup.com
Forward-Looking Statements:
This press release contains "forward-looking
statements" within the meaning of applicable Canadian securities
laws. Forward-looking statements are generally
identifiable by words such as "expects", "anticipates", "believes",
"intends", "estimates", "predicts", "outlook", "potential",
"targeted", "plans" "possible", "poised for", and similar
expressions, or statements that events, conditions or results
"will", "may", "could" or "should" occur or be
achieved. These statements are not historical
facts but instead represent Novra's belief regarding future events,
many of which, by their nature, are inherently uncertain and
outside of Novra's control. It is possible that actual
results will differ, possibly materially, from the anticipated
results contemplated by these statements. Factors that could
cause actual results to differ, possibly materially, from those
forward-looking statements are disclosed in our periodic MD&A
filings on SEDAR at www.sedar.com.
For the above reasons, readers are cautioned not to place
undue reliance on forward-looking statements.
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:
Harris Liontas
President & CEO
+1 204 989 4632
hliontas@novra.com
Steven Archambault
Chief Financial Officer
+1 613 596 4120 ext. 2296
sarchambault@novra.com
SOURCE Novra Technologies Inc.