SOURCE: Lattice Incorporated

Lattice Incorporated

February 22, 2011 09:47 ET

Lattice Closes $1 Million Financing

PENNSAUKEN, NJ--(Marketwire - February 22, 2011) - Lattice Incorporated (OTCBB: LTTC), a provider of advanced technological solutions to key government agencies and enterprise customers, announced today that the company has closed a $1 million financing to support growth of its communications business.

On February 14, 2011, Lattice issued 454,546 shares of newly-created Series D Convertible Preferred Stock in return for an investment of $1,000,000 by Barron Partners LP. Lattice plans to use the net offering proceeds from this private placement to expand production capacity, establish sales offices and fund promotional efforts and fund working capital and acquisition needs. The shares of Series D Preferred Stock are initially convertible into common stock at a price of $0.11 per share. Lattice management and other investors are expected to co-invest an additional 15% or more within the next 45 days.

Lattice CEO Paul Burgess said, "This funding, which will be used to fuel the company's communications business, both domestically and internationally, will help to substantially accelerate our growth. I and other members of the management team are significant participants in this funding, which we are confident will help propel our company significantly forward.

"The terms for this investment by Barron Partners LP include additional commitments by Lattice and its management to further its present growth strategy.

"This is an exciting time for Lattice. Our communications business is now operating internationally. Our traditional core software business is also doing well. We believe this will be a strong year for Lattice, particularly with this fresh injection of capital," Burgess said.

Lattice is filing a current report on Form 8-K, describing the details of this transaction. Exhibits to the Form 8-K include the Securities Purchase Agreement and the Certificate of Designation for the newly created Series D Convertible Preferred Stock.

About Lattice Incorporated
Lattice Incorporated is a provider of advanced information and communications technology solutions to the government and commercial markets. The company's technology services division designs, deploys and manages advanced technological solutions at key government agencies and for mid- to large-sized enterprises. Lattice's technology products division consists of several core proprietary platforms used to develop customized software applications with military grade security in a number of different markets. For more information, visit

An investment profile about Lattice Incorporated may be found at

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Safe Harbor Statement
Safe-Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial condition or results of operations; (iii) the company's growth strategy and operating strategy; and (iv) the risk factors disclosed in the Company's periodic reports filed with the SEC. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk factors disclosed in the company's Forms 10-K previously filed with the SEC.