VANCOUVER, BRITISH COLUMBIA - (Marketwire - Sept. 15, 2008) - Avantec Technologies Inc. (TSX VENTURE:AVV) (the "Company") is pleased to announce that Raytec Metal Corp. ("Raytec") will proceed with the distribution of shares it holds in the Company to the Raytec shareholders of record on November 15, 2006, when the transaction was initially announced. The Raytec shareholders approved the transaction at its 2007 Annual General Meeting and the TSX Venture Exchange has confirmed that it has no objection to the distribution, subject to certain escrow provisions.
Raytec currently owns 29,300,000 (approximately 55.3%) of the issued shares of the Company. The shares held by Raytec will be distributed to the Raytec shareholders of record on November 15, 2006.
About Avantec Technologies Inc. (AVV) www.avantecsafe.com
Avantec(R) is a developer and manufacturer of antimicrobials for water purification, cooling water, food surface sanitation and odor elimination using proprietary technology and EPA registered products. Avantec(R) has established channels of distribution with companies in North America, the European Union and Asia.
AVANTEC TECHNOLOGIES INC.
Jerry A. Minni, Director
Forward Looking Statements
This release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "expects", "plans", "estimates", "intends", "believes", "could", "might", "will" or variations of such words and phrases. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Avantec to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties which are described under the caption "Note Regarding Forward-looking Statements" and "Key Information - Risk Factors" and elsewhere in Avantec's Annual Report for the fiscal year ended June 30, 2007, as filed on SEDAR at www.sedar.com. The risk factors identified in Avantec's Annual Report are not intended to represent a complete list of factors that could affect Avantec. Accordingly, readers should not place undue reliance on forward-looking statements. Avantec does not assume any obligation to update the forward-looking information contained in this press release.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Website: www.avantecsafe.com
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