Exousia Advanced Materials Secures $575,000 Line of Credit Funding for Domestic and International Production Rollout
SUGAR LAND, Texas, Feb. 23 -- Exousia Advanced Materials, Inc. (OTC Bulletin Board: EXOU) announced today that it has secured $575,000 in funding for its production ramp up in the U.S. and China through a private investor. The first tranche will be drawn at closing and will fund the company's Wholly Owned Foreign Enterprise (WOFE) allowing it to begin delivery on its backlog of orders in China as well as accelerating the company's ability to fill its growing domestic pipeline of orders.
"Since our first round of outside funding in September of 2007, we have succeeded in building out the infrastructure, relationships, and contracts that allow for exponential growth. This funding marks our transition to full commercialization across multiple markets and product lines," commented J. Wayne Rodrigue, President and CEO of Exousia. "It allows us to implement our vision and strategy and to execute on the contracts we have secured over the past several months."
"More importantly, today represents the recognition of the value Exousia brings to the market. Our clients in the U.S. and China are focused on building and protecting infrastructure in the U.S. and China, large scale marine applications and high temperature applications in the oil and gas industry. As such, we are experiencing tremendous demand from these segments, despite the global economic turmoil. "
"Over the next few months, we will expand into new segments of the marketplace as each of our products, RPA(TM)/TrussCore(TM), and VISTAMER®/Coatings, are adopted for new uses. We are excited about the partnerships that come with today's announcement and are prepared to deliver the product lines that address specific issues in the marine, oil and gas, and other industries."
ABOUT EXOUSIA ADVANCED MATERIALS, INC.
Exousia manufactures advanced resins, engineered particles, high-performance coatings and structural products. Exousia products enhance strength, durability, cost effectiveness and performance for a wide range of manufacturing, commercial and construction applications. The Company serves both domestic and international markets. Additional information on Exousia can be found at http://www.exousiacorp.com
FORWARD-LOOKING STATEMENTS
Statements released by Exousia Advanced Materials, Inc. that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental and technological factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.
Broker Contact:
Surety Financial Group, LLC.
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