Vancouver, British Columbia–(Newsfile Corp. – May 19, 2020) – Ynvisible Interactive Inc. (TSXV: YNV) (OTCQB: YNVYF) (FSE: 1XNA) (the “Company” or “Ynvisible”) a market leader in electrochromic interfaces and printed electronics, announces a Business Transfer Agreement to acquire the printed electrochromic displays business of rdot AB (“rdot”) of Gothenburg, Sweden. The deal expands Ynvisible’s client list, strengthens the Company’s sales and marketing team and brings new assets to its digital marketing and product creation.
“rdot has a proven track record for excellent marketing of electrochromic displays and is generating sales. It’s strong in digital channels. The COVID pandemic rapidly changed how companies conduct business, and rdot’s born-digital approach to business is proving to be effective in these times,” said Tommy Höglund, VP Sales & Marketing. “With this acquisition, we’re delighted to strengthen our sales and marketing team with this rich set of capabilities and further tools for prototyping.”
rdot has been seeking a route to industrial scale manufacturing of electrochromic displays. Through the deal, the rdot client base gains access to Ynvisible’s industrial scale production, quality control and technology transfer capabilities. Mr. Höglund continued, “rdot’s electrochromics display prototyping business is on a strong growth path but has lacked resources to develop client opportunities to high volume industrial production. Ynvisible is equipped to serve clients’ production needs and transfer this capability to other manufacturing sites where end clients may need them more locally.”
“I am confident that all of our existing clients will have positive feelings about this deal. The fact that a larger organization with additional resources and capabilities is behind the electrochromic display technology will ultimately benefit the clients,” said Felix Karlsson, CEO of rdot AB, who will be joining the Ynvisible team. “It feels great to join Ynvisible, both personally and from a commercial perspective. At the end of the day, what drives all of us is to widely spread the adoption of printed electrochromic displays. Joining Ynvisible is a step in that direction.”
The Business Transfer Agreement between Ynvisible’s wholly owned subsidiary Ynvisible Production AB and rdot AB includes a transfer of rdot’s property and assets. The purchase price is 1.2 million Swedish Kronas (approx. $171,000 CAD), plus time limited performance based remuneration. rdot’s two employees join Ynvisible as new employees. For further information on rdot’s display business, see www.rdotdisplays.com.
Ynvisible Interactive Inc. Closes Private Placement
On May 14, 2020, Ynvisible announced that it would be closing, subject to acceptance by the TSX Venture Exchange, a non-brokered private placement of 7,500,000 common shares of the Company (the “Shares”) at $0.20 per Share to raise gross proceeds of $1,500,000 (the “Offering”). Ynvisible announces that with acceptance from TSV Venture Exchange the private placement has been closed. The securities issued pursuant to the private placement bear a statutory four month hold period expiring September 15, 2020, in accordance with applicable securities laws.
“Making Things Alive” Webinar Series
In response to the cancellation of all industry conferences and events for spring and summer 2020, Ynvisible Interactive began hosting a free webinar series “Making Things Alive.” The series is raising awareness around Printed Electronics and brings key industry experts, partners and clients to speak and present recent developments with Ynvisible. The events have drawn an international audience, with participants from over 40 countries viewing the live webinar sessions.
The third session in the series will take place today, May 19, at 11:00 AM (EST) and will include talks by Material Connexion and Electroninks. Ynvisible’s CEO, Jani-Mikael Kuusisto, will also briefly discuss the rdot Business Transfer Agreement.
Details of the third webinar in the series:
Making Things Alive: Bridging Industry Needs with Printed Electronics Design, Prototyping, and Volume Production
Date: May 19, 2020
Time: 11:00 AM (EST)
Recordings of the first two webinars are available on Ynvisible’s YouTube channel.
About Ynvisible Interactive Inc.
Ynvisible is a leading company in the emerging printed and flexible electronics sector. Given the cost and power-consumption advantages over conventional electronics, printed electronics are a crucial enabler of mass adoption of the Internet of Things (“IoT”) and smart objects. Ynvisible has the experience, know-how and intellectual property in the field of electrochromic materials, inks, and systems. Ynvisible’s interactive printed graphics solutions solve the need for ultra-low power, mass deployable, & easy-to-use electronic displays and indicators for everyday smart objects, IoT devices, and ambient intelligence (intelligent surfaces). Ynvisible offers a mix of services, materials and technology to brand owners developing smart objects and IoT products.
For additional information regarding Ynvisible Interactive and other corporate information, please visit the Company’s website at ynvisible.com
ON BEHALF OF THE BOARD OF DIRECTORS
For further information, please contact:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Ynvisible Interactive Inc. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Ynvisible Interactive Inc. management on the date the statements are made. Except as required by law, Ynvisible Interactive Inc. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/56080
Powered by WPeMatico