CARLSBAD, CA / ACCESSWIRE / June 4, 2021 /OPTEC International, Inc. (OTC PINK:OPTI), a developer the OPTEC Fuel Maximizer products alongside the company's UV and UV-C safety products using related advanced technologies specific to Personal Protection Equipment (PPE), and supplier of wholesale Medical PPE today released the following corporate update regarding the increase in authorized common shares and changes to the preferred share structure.
Optec International Inc, today announced the company has secured additional non-toxic funding in the form a One Year Bridge loan to help close the WeShield acquisition. In addition to funds set aside from operations, the company was able to secure additional non-toxic funding to meet the closing requirements for the transaction. The entire financial disclosure of the transaction will be published immediately after closing as per the confidentiality terms defined in definitive agreement.
OPTEC CEO, Roger Pawson, commented "We are extremely excited to announce the final funding needed to complete the WeShield acquisition which will add a large AI driven sales and marketing platform to OPTEC's sales in addition to projected consolidated revenues in excess of $170 million for 2021.
WeShield is an established New York based AI (Artificial Intelligence) Driven MedTech company in the PPE space with 2020 audited revenues in excess of $55M. The company is extremely well established in the Wholesale Medical sector supplying PPE safety products to: GAP, Caesars Entertainment, Hard Rock, Defense Logistics Agency (DLA), NYC Housing Authority (NYCHA) and more. This AI driven MedTech company is on track for substantial growth and projecting revenues of over $100M for 2021. The company has a very strong, well-structured management team and uses advanced marketing technology to fuel both the company's operations and continual growth.
About OPTEC International, Inc.
With Locations in Carlsbad and Vista, California, OPTEC International is a developer and manufacturer of the OPTEC Fuel Maximizer products along with electronic LED, Ultraviolet (UV) & UV-C safety products and related advanced technologies and PPE (Personal Protection Equipment) products. The company's Temperature Scanning product line is being launched at a time when HR directors and facilities managers are experiencing extreme concern with respect to keeping environments safe during the global pandemic crisis and the safe reopening of the U.S. economy. For more information, visit: www.optecintl.com
Safe Harbor Statement: Safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as Opti, OPTEC or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions, or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. OPTEC International Inc.
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SOURCE:Optec International, Inc.
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