EDMONTON, ALBERTA--(CCNMatthews - Jan. 18, 2006) - CV Technologies Inc. (CVT)
(TSX VENTURE:CVQ), maker of COLD-fX, today reported preliminary net sales
figures of $18.9 million for the first quarter of fiscal 2006. This represents
an increase of $7.6 million over first quarter sales of $11.3 million for the
same period last year.
CV Technologies President and CEO, Dr. Jacqueline Shan said, "We are very
pleased with these results which reflect the success of our increased marketing
programs and distribution networks, primarily in eastern Canada. The recent
launch of CELL-fX(R), for the relief of joint pain, also contributed to our
The company also reported it has filed an application to be listed on the
Toronto Stock Exchange, Canada's premier exchange. CV Technologies has been
listed on the TSX Venture Exchange since 2001 and was selected as the
Exchange's top performing company in 2005.
Dr. Shan said, "Graduating to the Toronto Stock Exchange will be a significant
accomplishment for our company. We have shown a strong track record of business
management in a time of rapid growth and we feel this is the right time to move
to the senior exchange. A listing on the TSX can bring our company more
visibility, attract analysts and institutional investors and offer more
stability to the Company in the capital markets."
ABOUT CV TECHNOLOGIES INC.
CV Technologies, founded in 1992, is a global leader in the development and
commercialization of naturally derived, evidence based, clinically tested,
medicines for disease prevention and health maintenance. CVT's lead product -
COLD-fX(R), - the top selling cold and flu remedy in Canada according to
ACNielsen, strengthens the immune system and is widely used as a leading
anti-cold, anti-flu, non-prescription treatment. COLD-fX's unique, patented,
mechanism of action was developed and standardized according to the Company's
ChemBioPrint (R) process. The CBP(R) process precisely identifies the chemical
profile and biological activity of multi-active components in natural
compounds. The CBP(R) process provides a manufacturing protocol that ensures
each batch of compound delivers verifiable and provable health benefits.
This news release contains forward-looking statements that involve risks and
uncertainties, which may cause actual results to differ materially from the
statements made. For this purpose, any statements that are contained herein
that are not statements of historical fact may be deemed to be forward-looking
statements. Without limiting the foregoing, the words "believes",
"anticipates", "plans", "intends", "expects" and similar expressions are
intended to identify forward-looking statements. Such risks and uncertainties
include, but are not limited to, the need for capital, changing market
conditions, completion of clinical trials, patient enrolment rates, uncertainty
of pre-clinical, retrospective and early clinical trial results, the
establishment of manufacturing processes and new corporate alliances, the
timely development, regulatory approval and market acceptance of the Company's
products, and other risks detailed from time to time in the Company's filings
with Canadian securities authorities.
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