Semiconductor Laser International Corporation Consummates $5.7 Million In Private Financing
April 4, 2000
Binghamton, NY. Semiconductor Laser International Corporation (SLI) (OTC Bulletin Board: SLIC) announced that it has consummated a series of private placements resulting in gross proceeds to the Company aggregating $5,730,000 since January 1, 2000, with a potential for an additional $7.4 million if all warrants issued in connection with such financing are exercised.
Geoffrey T. Burnham, Chief Executive Officer of the Company stated, "We are enthusiastic about our recent success in attracting new capital to the Company. The Company issued an aggregate of approximately 12.8 million shares and warrants to purchase an additional 9.7 million shares at warrant exercise prices ranging between $.75 and $1.0625 per share. Although the capital was raised at a discount to market prices on the dates of issuance, none of the securities issued have any pricing reset provisions. We intend to seek to grow our business through expansion into telecommunications products. We have the capability, without substantial capital expenditures or a significant expansion of staff, to manufacture products with telecommunications applications. We expect, initially, to concentrate on the sale of high power multimode 980 nm pump lasers which are used for signal amplification in fiber optic telecommunications applications. To expand into additional product lines such as the single mode 980 nm pump lasers would require additional capital and we are continuing our efforts to raise such additional capital. Of course, there is hard work ahead of us and there can be no assurance that we can raise additional financing or achieve significant telecommunications revenues."
SLI is a company dedicated to quality manufacturing and production of high power semiconductor lasers. SLI s technology has potential uses for telecommunications, printing, laser marking, medical, optical display, illumination, precision machining and military.
Statements concerning results of future performance are forward-looking statements. These statements are based on assumptions that management believes are reasonable in light of currently available information; however, management s assumptions and SLI s future performance are both subject to a wide range of business risks, including, but not limited to, a history of significant losses, need for additional capital, risks associated with the manufacturing process, risks associated with the transition to the highly competitive telecommunications industry, certain patent and technology considerations, competition and technological changes, governmental regulations, dependence on key personnel, and other risks detailed in SLI s filings with the Securities and Exchange Commission. There is no assurance that these goals can and will be met. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Future events and actual results could differ materially from those expressed in, contemplated by, or underlying any such forward-looking statements. Further information is available in SLI s filings with the Securities and Exchange Commission, copies of which are available from SLI or from the Commission.
Contact:
Richard Anderson, Mgr. Corporate Communications of Semiconductor Laser International Corporation
Tel: 607-722-3800, 877-GO4-SLIC
Fax: 607-722-3900
www.slicorp.com
Richard Anderson, Mgr. Corporate Communications of Semiconductor Laser
International Corporation
Tel: 607-722-3800, 877-GO4-SLIC
Fax: 607-722-3900
www.slicorp.com
Web site: http://www.slicorp.com
