OPEL Technologies (TSXV:OPL) (OTCQX:OPELF) Private Placement Oversubscribed - Video Summary on www.investmentpitch.com
2013-02-20 16:39:45 -
Vancouver, British Columbia, February 20, 2013 - OPEL Technologies (TSXV:OPL)
(OTCQX:OPELF) has successfully completed a $7.2 million private placement, with
IPK Capital acting as agent for the financing.
The financing, which was oversubscribed from the previously announced $5.5
million, consisted of 14.4 million units at a price of $0.50 per unit. Each unit
consisted of 1 common share and 1 common share purchase warrant, with the
warrant exercisable at $0.75 for a 2 year period.
InvestmentPitch.com has produced a "video news alert" which provides a brief
overview of OPEL Technologies. If this link is not enabled, please visit
www.InvestmentPitch.com and enter "OPEL" in the search box.
Pinetree Capital (TSX:PNP), a diversified investment and venture capital firm,
subscribed to 1.5 million units. As a result of this transaction, Pinetree now
owns approximately 5.5 million common shares, and another 5 million of
OPEL Technologies is the developer of next-generation Gallium Arsenide
semiconductor device technology called POET, which stands for Planar Opto-
Dr. Geoffrey Taylor has been developing POET for over 20 years and conducts his
research at the University of Connecticut. Since 2001, OPEL has received in
total over $14 million in government grant funding for the development of POET.
POET allows for the integration of optics and electronics on a single chip. This
technology immediately addresses the requirements of numerous military
development and procurement programs for sensors, communications and computing.
POET has the potential to become a disruptive technology within numerous major
commercial markets by overcoming the physical size and energy consumption
limitations of silicon CMOS semiconductors in a highly economical manner. A
functional POET device may reduce the power consumption of laptops, tablets,
smartphones, servers, and/or other electronic devices by 80%.
For more information please visit the company's website www.opelinc.com or call
Patricia Agudow at 203-612-2366 extension 2612 or email email@example.com.
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Barry Morgan, CFO
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