Contact Information: For more detailed information, please contact: Murray S. Cohen, Chairman of the Board James Ivchenko, President (973) 465-9495
Epolin, Inc. Announces Termination of Letter of Intent
| Source: Epolin, Inc.
NEWARK, NJ--(Marketwire - November 17, 2009) - EPOLIN, INC. ("Epolin") (OTCBB : EPLN )
(www.epolin.com) today announced that it has received a letter of
termination from the proposed purchaser with regard to the previously
announced non-binding letter of intent pursuant to which such strategic
purchaser proposed to acquire all of the outstanding capital stock of
Epolin. As a result of such termination, Epolin's obligation to negotiate
exclusively with such purchaser has been terminated as well.
Epolin will continue to pursue strategic and financial options which it
believes are in the best interests of its shareholders including but not
limited to a potential sale to a third party. There can be no assurance
that any such transaction can or will be completed.
About Epolin
Epolin, Inc. is a specialized chemical company primarily engaged in the
manufacturing, marketing, research and development of infrared dyes, laser
absorbing dyes and infrared dye formulations. The Company's business is
heavily weighted towards the development, manufacture and sale of near
infrared dyes. Applications for these dyes cover several markets that
include laser protection, welding, sunglasses, optical filters, glazing and
imaging and security inks and tagants. The Company also manufactures
specialty chemicals for certain chemical manufacturers.
Statements contained herein that are not based upon current or historical
fact are forward-looking in nature. Such forward-looking statements reflect
the Company's expectations about its future operating results, performance
and opportunities that involve substantial risks and uncertainties. When
used herein, the words "anticipate", "believe", "estimate", "plan",
"intend" and "expect" and similar expressions, as they relate to Epolin,
Inc., or its management, are intended to identify such forward-looking
statements. These forward-looking statements are based on information
currently available to the Company and are subject to a number of risks,
uncertainties, and other factors that could cause the Company's actual
results, performance, prospects, and opportunities to differ materially
from those expressed in, or implied by, these forward-looking statements.
Factors that could cause or contribute to such differences include, but are
not limited to, such factors discussed in reports and documents filed from
time to time by the Company with the Securities and Exchange Commission.
Except as required by the Federal Securities law, the Company does not
undertake any obligation to release publicly any revisions to any
forward-looking statements to reflect events or circumstances after the
date hereof or for any other reason.