hrink Nanotechnologies, Inc. (Shrink; OTC: INKN) has executed a binding letter of intent to
acquire 100% of Hawaii-based Nanopoint Inc. The transaction highlights are:
• Shrink will exchange 25,750,000 shares of its common stock for 100% of the equity interests in Nanopoint;
• Additional stock payments of up to 40,000,000 shares will be made upon Nanopoint meeting certain sales and EBITDA targets by June 30, 2012 and December 31, 2013, respectively;
• All critical Nanopoint employees will be retained, and at closing.
Nanopoint will operate as a wholly owned subsidi- ary of Shrink, and will have not less than $500,000 of cash on its balance sheet. The closing, which has been set for May 31, 2011 or sooner, is subject to additional terms and conditions as well as customary due diligence by the parties.
Shrink Nanotechnologies, Inc. is a FIGA™ organi- zation, focusing on leveraging contributions from experts in Finance, Industry, Government and Aca- demia. Operating as a high-technology development- stage company, Shrink licenses, owns and in all cases develops proprietary and patent-pending nano-sized technologies, components and product systems for a number of leading edge technology markets of varying sizes.
Nanopoint is a privately-held life sciences instrumen- tation and microfluidics platform company that is revolutionizing biomedical research with its extended time-lapse live cell imaging solutions. Nanopoint‘s award-winning, patented cellTRAY®
, patented cell- TRAY® Dish, and patent-pending automated micro-
fluidics delivery system, on-stage incubation system and proprietary imaging software provides solutions to a broad spectrum of applications including drug discovery, assisted reproductive technologies, lab-on- a-chip, stem cell research, and bio-detection.
martKem Limited has received investment funding from the Porton Capital Group and Fi-
nance Wales Investments Limited. The investment allows SmartKem to further develop its flexible prin- ted electronics solutions. Based in Denbighshire, Wales, SmartKem is a developer of novel, printable organic semiconductor materials and ink formulati- ons for flexible electronics.
Steve Kelly, CEO SmartKem, comments: “The fun- ding from both the Porton Group and Finance Wales Limited will enable SmartKem to considerably speed up developments and growth. Our semiconductor materials are currently being sampled to a number of electronic device manufacturers and with this invest- ment, SmartKem can scale up market testing and accelerate towards commercialisation. This will allow us to further establish our position as a leading inde- pendent provider of organic semiconductor solutions for the printed electronics sector and to continue our breakthrough research and development projects’’. http://www.smartkem.com
olMateS, the highly innovative supplier of PZT thin film solutions, has received a three million dollar investment from private equity funds Twente
11-04 :: April/May 2011