Proceeds Targeted to Integrate DigiFlex Acquisition and Initiate Sales
MIGDAL HA'EMEK, ISRAEL / ACCESSWIRE / January 16, 2018 / PV Nano Cell, Ltd. (OTCQB: PVNNF) ("PV Nano Cell" or the "Company"), an innovative producer of conductive digital inks, announced today the closing of a $1 million capital raise. The investor group, JetCu P.C.B. Ltd., was made up of a group of main shareholders of DigiFlex, the digital printer manufacturer recently acquired by PV Nano Cell.
The investment transaction comprised of common shares at a fixed price of $1.00 and three warrants exercisable at $0.50 for every ten shares.
Dr. Fernando de la Vega, PV Nano Cell's Chief Executive Officer, commented, "This recent investment by JetCu demonstrates their enthusiasm and support in the newly combined entity of PV Nano Cell and DigiFlex. The additional capital will help enable us to integrate the activities of the two companies and accelerate the path to drive incremental revenue. The focus will be to finalize the development of the new integrated, prototyping, design and R&D printer dedicated for printed electronics applications including PCB's."
PV Nano Cell, Ltd.
PV Nano Cell has developed innovative conductive inks for use in printed electronics (PE) and solar photovoltaics (PV) applications. PV Nano Cell's Sicrys™ ink family is a single-crystal, nanometric silver conductive ink delivering enhanced performance. Sicrys™ is also available in copper-based form, delivering all of the product's properties and advantages with improved cost efficiency. Sicrys™ conductive inks are used all over the world in a range of inkjet printing applications, including photovoltaics, printed circuit boards, antennas, sensors, touchscreens and other applications. In addition, PV Nano has expanded its capabilities to include an Integrated prototyping, design and R&D unique printer with the recent acquisition of DigiFlex. For more information, please visit www.PVNanoCell.com.
This press release contains forward–looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward–looking statements." All information set forth in this news release, except historical and factual information, represents forward–looking statements. This includes all statements about the Company's plans, beliefs, estimates and expectations. These statements are based on current estimates and projections, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward–looking statements. These risks and uncertainties include issues related to: rapidly changing technology and evolving standards in the industries in which the Company operates; the ability to obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new business, and sign new agreements. For a more detailed description of the risks and uncertainties affecting PV Nano Cell, reference is made to the Company's latest Annual Report on Form 20-F which is on file with the Securities and Exchange Commission (SEC) and the other risk factors discussed from time to time by the Company in reports filed with, or furnished to, the SEC. Except as otherwise required by law, the Company undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Released January 16, 2018