Noveko Signs Deal to Distribute Surgical Face Masks

Noveko Inc. (NKOFF.PK) shares continue to rise Friday, following Thursday's distribution agreement with Formedica, a Quebec-based developer of orthopaedic products.

Noveko's deal with Formedica will see Noveko's antimicrobial surgical face masks and antimicrobial protection face masks distributed in substantially all Quebec drugstores and the 300 Wal-Marts (WMT) across Canada.

Noveko will supply Formedica with a first order of 250,000 antimicrobial face masks within the next 30 days, The amount satifies the current minimal needs of the Quebec pharmaceutical and para-pharmaceutical market and the 300 Wal-Marts across Canada.

Once Formedica has further penetrated the Canadian market, it intends to increase its orders to more than a million antimicrobial face masks quarterly.

Over Wednesday and Thursday, Noveko stock jumped as much as 23%. Late Friday morning, shares were up C$0.26 to C$6.26.