TORONTO, ONTARIO -- (Marketwire) -- 08/29/12 -- Artaflex Inc. (TSX VENTURE: ATF) ("Artaflex") announced today that it delivered formal notice to MTI International, Inc. ("MTI") terminating its plan of merger and agreement dated as of July 17, 2012 with MTI (the "Acquisition Agreement") as Artaflex was unable to satisfy the condition precedent under the Acquisition Agreement of obtaining certain consents unrelated to MTI to complete the transaction by the agreed closing date. In a related announcement, the previously announced $15.3M financing package to be provided by Kilmer Capital Partners to Artaflex will not proceed.
About Artaflex:
Artaflex is a specialist at delivering integrated product solutions and support to the global technology and electronics industry. As a leading global provider of complete Electronics Manufacturing Services (EMS), Artaflex offers world class manufacturing facilities and global partners throughout Canada, the United States, Israel and China, allowing Artaflex to provide its customers the flexibility and scalability to competitively achieve total solutions to their present and future electronics outsourcing needs. Visit Artaflex at: www.artaflex.com.
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Contacts:
Artaflex Inc.
Paul Walker
Chief Executive Officer
905-479-0148
paul_walker@artaflex.com
Artaflex Inc.
Frank Skerlj
Chief Financial Officer
905-754-1036
frank_skerlj@artaflex.com
www.artaflex.com