SOURCE: Epolin, Inc.

September 15, 2009 11:16 ET

Epolin, Inc. Announces Further Amendment to Letter of Intent

NEWARK, NJ--(Marketwire - September 15, 2009) - EPOLIN, INC. (the "Company") (OTCBB: EPLN) ( today announced that it has signed a further amendment to a previously announced non-binding letter of intent whereby all of the outstanding capital stock of the Company will be acquired by a strategic purchaser. As previously disclosed, the proposed transaction is subject to various conditions including but not limited to satisfactory completion of due diligence by the purchaser, receipt by the Company of a fairness opinion acceptable to its Board of Directors, execution of a definitive agreement and approval by the shareholders of the Company. Pursuant to the amendment being announced today, Epolin has agreed to negotiate exclusively with the potential buyer until December 15, 2009. No other terms were disclosed.

There can be no assurance that any definitive agreement will be entered into, that any proposed transaction will be approved by the shareholders of the Company or that a transaction 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.

Contact Information

  • For more detailed information, please contact:
    Murray S. Cohen, Chairman of the Board
    James Ivchenko, President
    (973) 465-9495