Contact Information: For more detailed information, please contact: Murray S. Cohen, Chairman of the Board James Ivchenko, President (973) 465-9495
Epolin, Inc. Announces Further Amendment to Letter of Intent
| Source: Epolin, Inc.
NEWARK, NJ--(Marketwire - September 15, 2009) - EPOLIN, INC. (the "Company") (OTCBB : EPLN )
(www.epolin.com) 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.