Omni-Lite chooses QED for E-Form equipment design
Omni-Lite Industries Canada Inc.
February 23, 2005
Omni-Lite Industries Canada Inc. has retained the services of QED Extrusion Development Inc. of San Diego, Calif., to assist in the design of the equipment for the research to be conducted by Omni-Lite E-Form. Much of the design phase is now complete, with the more complex and long-lead-time components now on order. QED, a specialist in the development and evaluation of advanced materials, is also tasked with assisting during the experimental and review phases of the project.
The basic research being conducted by E-Form is being financed by approximately $150,000 provided by five investors, some of whom are insiders of Omni-Lite. The risks inherent to the nature of this research and the lengthy period between development and commercialization were considered in the capital structure of E-Form. These five investors have subscribed for 50 per cent of the shares of E-Form. Omni-Lite owns the remaining 50 per cent through its subsidiary, Formed Fast International Inc. E-Form is considered a subsidiary of Omni-Lite and, as such, will provide Omni-Lite with preferential terms for the use or licence of any products developed from the research conducted. E-Form will adopt other corporate governance mandates with regard to profit and cost sharing, potential conflicts of interest, intellectual property development and ownership, and other such matters as are necessary for good governance.
Omni-Lite is a rapidly growing high technology company that develops and manufactures precision components utilized by companies including Boeing, Airbus, Bombardier, Alcoa, Daimler-Chrysler, the U.S. Military, Nike, Adidas and Reebok.
Except for historical information contained herein this document contains forward-looking statements. These statements contain known and unknown risks and uncertainties that may cause the company's actual results or outcomes to be materially different from those anticipated and discussed herein.
THE TSX VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE
INFORMATION CONTAINED HEREIN.
|| Main Page | Investor Info | Profile / Divisions | Online Store | Contact Us | | Follow @OmniLiteInd ||