Victoria, BC and Portland, OR — Naturally Advanced Technologies Inc. (NAT) is pleased to announce that, effective October 31, the company’s name will change from Naturally Advanced Technologies Inc. to Crailar Technologies Inc.
Accordingly, and at the opening of trading on the TSX Venture Exchange on October 31, the trading symbol for the company will change from NAT to CL. The new CUSIP number will be 224248104 and the new ISIN number will be CA2242481042. It is also anticipated that the trading symbol for the company on the OTCBB will change, and the company will update its shareholders as soon as it receives its new trading symbol from FINRA evidencing the same. The share capital of the company remains unchanged.
“We have a unique opportunity to create a single technology, single brand entity platform which is a marketer’s dream,” said Ken Barker, CEO of Crailar Technologies. “We’re happy to have quickly completed this shareholder-approved strategy to change the company name to Crailar Technologies Inc. This change gives us a redline in branding through all corporate, technology and product applications.”
Concurrent with the change of name, the company will also be adopting new articles in the form approved by its shareholders at its recent annual general and special meeting, which was held on August 8. Among other things, the new articles facilitate the use of uncertificated shares and electronic record-keeping systems currently in use worldwide and which are increasingly being adopted in Canada. In addition, and as the company intends to apply to list its common shares on a senior exchange in the U.S., it was necessary to amend its articles to increase the quorum requirement for meetings of shareholders to one-third of the outstanding shares of the company.
About Naturally Advanced Technologies Inc.
Naturally Advanced Technologies Inc., through its wholly owned subsidiary, CRAiLAR® Fiber Technologies Inc., has developed proprietary technologies for production of bast fibers, cellulose pulp, and their resulting by-products in collaboration with Canada’s National Research Council. Its renewable and environmentally sustainable biomass resources from flax, hemp and other bast fibers offer cost-effective and environmentally sustainable processing and production, along with increased performance characteristics for use in textile, industrial, energy, medical and composite material applications. The company was founded in 1998 as a provider of environmentally friendly, socially responsible clothing. For more information, visit www.crailar.com.