Novamerican Steel Inc. Announces the Listing and Trading of Its Securities on The Nasdaq Capital Market
31 Dicembre 2007 - 4:12PM
Business Wire
Novamerican Steel Inc. (�Novamerican�) (Nasdaq: TONS and TONSW)
announced today that its common stock, $0.001 par value (the
�Common Stock�), and warrants to purchase one share of Common Stock
(the �Warrants� and, together with the Common Stock, the
�Securities�) began trading today on The Nasdaq Capital Market
(�NASDAQ�). The Securities and Novamerican�s units, consisting of
one share of Common Stock and one Warrant (the �Units�), formerly
traded on the American Stock Exchange. The Units, which had traded
as a separate class of security, ceased to trade as such and all
outstanding Units have been automatically separated into one share
of Common Stock and one Warrant. Corrado De Gasperis, Novamerican�s
CEO, said, �We believe the TONS symbol has been an integral part of
the Novamerican awareness within the investor community and look
forward to the continuity of that recognition as a new member of
NASDAQ.� About Novamerican Novamerican has twenty-two operating
locations in Canada and the United States. It processes and
distributes carbon steel, stainless steel and aluminum products and
operates as an intermediary between primary metal producers and
manufacturers that require processed metal. Novamerican also
produces roll formed steel sections and manufactures heavy
equipment parts and accessories. Novamerican�s flat rolled
processing capabilities include pickling, slitting, blanking,
leveling, temper-rolling and cutting-to-length to precise customer
specifications. Additionally, Novamerican performs many of these
processing services for customers who provide their own steel,
referred to in the industry as toll processing. For additional
information on Novamerican, visit its website at
http://www.novamerican.com. Forward-Looking Statements This press
release and any related calls or discussions may contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 about Novamerican.
Forward-looking statements are statements that are not historical
facts. Such forward-looking statements, based upon the current
beliefs and expectations of Novamerican�s management, are subject
to risks and uncertainties (including those described in
Novamerican�s public filings with the Securities and Exchange
Commission), which could cause actual results, events and
circumstances to differ materially from the forward-looking
statements. The following factors, among others, could cause actual
results, events and circumstances to differ from those set forth in
the forward-looking statements: changes in generally accepted
accounting principles; failure of Novamerican to continue to comply
with government regulations; adoption of or changes in legislation
or regulatory environments or requirements adversely affecting
Novamerican�s businesses; changes in the financial stability of
major customers of Novamerican or in demand for its products and
services; the failure to achieve the benefits anticipated from the
recently completed transactions; competition; changes in general
economic conditions; geopolitical events, and other risks and
uncertainties, as well as future decisions by the parties. The
information set forth herein should be read in light of such risks.
In some cases, one can identify forward-looking statements by
terminology such as �may,� �should,� �could,� �would,� �expect,�
�plan,� �anticipate,� �believe,� �estimate,� �continue,� or the
negative of such terms or other similar expressions. The reader is
cautioned not to rely on these forward-looking statements.
Novamerican disclaims any obligation to update these
forward-looking statements.
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