Exousia Advanced Materials, Inc. Receives $3 Million Funding for Expanded Production
Infusion of Capital, Following UFPI Distribution Agreement and Increased Demand in China, To Be Used For Operations To Reach Full Production Capacity
SUGAR LAND, Texas, May 7 -- Exousia Advanced Materials, Inc. (OTC Bulletin Board:EXOU), a company that manufactures advanced industrial coatings for worldwide infrastructure applications and engineered composites for eco-friendly wood substitutes, has received a funding commitment for $3 million from a private capital group with closing expected in the next few weeks.
At closing, the company will receive $1 million with an additional $2 million as needed as the company achieves its revenue and profit milestones.
"As a result of the recent distribution agreement we signed with Universal Forest Products (UFPI) and increased orders in China, we have very high demand for our products," said Wayne Rodrigue, Chairman and CEO. "This capital raised will enable us to ramp up our production and expand our facilities to meet the increase in demand. We plan to fully increase production capacity to its potential $4-6 million per month in our China coatings facility, $1 million per month in our U.S. coatings facility, and about $2-3 million per month in our RPA facilities. This is an extremely exciting time for the company and we plan to continue to pursue additional expansion and growth opportunities as we move forward with our aggressive commercialization strategy."
Exousia operates a production facility in Channelview, Texas as well as a production facility in Tianjin, China. Exousia products include proprietary resins, industrial coatings, and structural materials. Products are sold under the trade names RPA(TM) Resin, VISTAMER® Rubber Engineered Particles, AEGEON(TM) (U.S.) and Power Shield(TM) (China/Asia) Industrial Coatings, SIPs Building Systems, TUFFCORE(TM) Structural Components, and E-CORE(TM) Structural Foam.
For more news and information on Exousia Advanced Materials, Inc., please visit http://irgnews.com/coi/EXOU where you can find a fact sheet on the company, investor presentations, and more.
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.
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