Envirokare Announces Intention to Acquire New Age Shelters

Envirokare Tech has entered into a non-binding agreement to combine forces and merge with New Age Shelters. Under the terms, New Age will become a wholly owned subsidiary of Envirokare.

Envirokare is a marketer of state-of-the-art thermoplastic thermoforming composite technology and developer of long fibre reinforced products.

New Age Shelters is a manufacturer of building systems based in Kelowna, British Columbia, Canada. They develop and manufacture patented low-cost, lightweight building systems for both the domestic and international markets.

If the intended merger is successful, New Age will remain in existence. It is also expected that New Age will expand its product range and capabilities by incorporating Envirokare’s technology into its designs.

The deal, subject to approvals and due diligence, is expected to close by the end of 2003.

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