Nike and Omni-Lite Sign Long-term Contract|
Omni-Lite Industries Canada Inc.
December 13, 2001
CERRITOS, CALIFORNIA. December 13, 2001- Omni-Lite is pleased to announce that it has received a three-year extension to its current contract with Nike Inc. This contract extends delivery of the company's sports and recreation components to Nike until December 2004. The total value of this program to Omni-Lite is approximately $3,120,000 CDN. "Since 1994 Nike has utilized Omni-Lite's components in its track and field product line. This contract will ensure that our products will be utilized for many years to come," stated Tim Wang, Sales and Business Development Manager.
Omni-Lite is also pleased to be included in the new S&P/CDNX Composite Index. Omni-Lite currently ranks among the top 150 companies on the CDNX with respect to market capitalization. In addition, Omni-Lite is continuing to repurchase shares through its normal course issuer bid on the CDNX. As of December 2001, the total number of shares issued and outstanding has been reduced to 9,180,602.
The company has extended its contract with QIS Capital Corp. to augment the company's investor relations program. This contract covers the period December 2001 to March 2002. The total remuneration from the contract will be $7,000 CDN.Omni-Lite is a rapidly growing high technology company that develops and manufactures precision components utilized by 200 companies including Boeing, Airbus, Bombardier, Fairchild, GM, Ford, Mazda, Daimler-Chrysler, the U.S. Military, NATO, 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.
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