Novori, Inc. (NOVO) Termination of Standby Equity Distribution Agreement
26 November 2008 - 5:49AM
PR Newswire (US)
BELLINGHAM, WA, Nov. 25 /PRNewswire-FirstCall/ -- Novori Inc. (OTC
BB:NOVO.OB - News) an online interactive retailer of fine diamond
engagement rings and jewelry - announces that it has received a
notice to terminate a standby equity distribution agreement it
entered into on January 24, 2007. The equity standby distribution
agreement allowed the creditor to purchase up to an aggregate
amount of $1,260,000 worth of Novori's common stock until January
24, 2009. During the term of the agreement Novori had received
proceeds of US $540,000 and had issued 2,116,989 shares of our
common stock. The termination will be effective as of December 10,
2008. The termination does not create any new obligations for
Novori. About Novori Inc.: Founded in 2004, Novori is an online
interactive retailer of diamond engagement rings and fine jewelry.
Launched in 2005, http://www.novori.com/ provides consumers with
superior customer service and a better way to buy diamond jewelry.
The Company offers thousands of independently certified diamonds,
settings and fine jewelry at prices below those offered by
traditional retail companies. Forward-Looking Statements: Except
for the historical information contained herein, the matters
discussed in this press release are forward-looking statements.
Actual results may differ materially from those described in
forward-looking statements and are subject to risks and
uncertainties. See the Company's filings with the Securities and
Exchange Commission which identify specific factors that may cause
actual results or events to differ materially from those described
in the forward-looking statements. DATASOURCE: Novori Inc. CONTACT:
Investor Relations, (778) 571-0880,
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