ProPhotonix Limited 5-Year Master Purchase Agreement - Fortune 50 CGLM
10 Octubre 2019 - 01:00AM
RNS Non-Regulatory
TIDMPPIX
ProPhotonix Limited
10 October 2019
October 10, 2019
ProPhotonix Limited
("ProPhotonix" or "the Company")
Five-Year Master Purchase Agreement from a Fortune 50
conglomerate
ProPhotonix Limited, (London Stock Exchange - AIM: PPIX; OTC:
STKR), a designer and manufacturer of LED illumination systems and
laser diode modules with operations in Ireland and the United
Kingdom, today announces the award of a five year supply agreement,
for custom LED illumination devices and maintenance products, from
a Fortune 50 conglomerate (the "Agreement").
The custom LED illumination devices feature a unique design
incorporating multiwavelength configurations and automated software
to control spectral balance and the automated configuration of
hardware deployment.
The Agreement runs for five years unless otherwise terminated
pursuant to various provisions of the Agreement. Whilst the
Agreement does not stipulate or require that the customer makes any
purchases, ProPhotonix anticipates that expected revenue could
equate to approximately $1 million per annum.
Commenting on the Agreement, Tim Losik, President and CEO of
ProPhotonix stated:
"The Agreement is the culmination of nearly four years of work
with our customer, ultimately delivering innovative solutions and
capability that will provide them with a superior market solution.
These solutions do more than just provide light - they communicate
with the control features of the entire system through our custom
software and design features. Every engineering discipline at
ProPhotonix including optics, electronics, mechanics, materials,
software and manufacturing, participated from concept to
commercialization. With over 15 years' experience in custom LED and
laser module design, ProPhotonix delivers solutions across a wide
range of industries including the dental, medical and
pharmaceutical industries."
Contact:
ProPhotonix Limited Tel: +1 603 893 8778
Tim Losik, President & CEO ir@prophotonix.com
Cantor Fitzgerald Europe
(Nominated Adviser and Broker) Tel: +44 (0)207 894 7000
David Foreman (Corporate Finance)
Keith Dowsing (Equity Sales)
About ProPhotonix
ProPhotonix Limited, headquartered in Salem, New Hampshire, is a
high technology designer and manufacturer of diode-based laser
modules and LED systems for industry leading OEMs and medical
equipment companies. In addition, the Company distributes premium
diodes for Ushio, Osram, QSI, Panasonic, and Sony. The Company
serves a wide range of markets including the machine vision,
industrial inspection, security, and medical markets. ProPhotonix
has offices and subsidiaries in the U.S., Ireland, U.K., and
Europe. For more information about ProPhotonix and its innovative
products, visit the Company's web site at www.prophotonix.com.
Cautionary Statement
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. All statements
other than statements of historical fact, including without
limitation, those with respect to ProPhotonix's goals, plans and
strategies set forth herein are forward-looking statements. The
following important factors and uncertainties, among others, could
cause actual results to differ materially from those described in
these forward-looking statements: uncertainty that cash balances
will be sufficient to allow ProPhotonix to meet all of its business
goals; uncertainty that ProPhotonix's new products will gain market
acceptance; the risk that delays and unanticipated expenses in
developing new products could delay the commercial release of those
products and affect revenue estimates; the risk that one of our
competitors could develop and bring to market a technology that is
superior to those products that we are currently developing; and
ProPhotonix's ability to capitalize on its significant research and
development efforts by successfully marketing those products that
the Company develops. Forward-looking statements represent
management's current expectations and are inherently uncertain. All
Company, brand, and product names are trademarks or registered
trademarks of their respective holders. ProPhotonix undertakes no
duty to update any of these forward-looking statements.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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