OPTEC International, Inc. (OPTI) Secures $5,000,000 + Financing for Expansion of UV-C Sterilization Products to Help Safely Re-Open Economy Amidst Increased Pandemic Case Reports

Rhea-AI Summary

OPTEC International, Inc. (OTC PINK:OPTI) has secured more than $5,000,000 in funding from California's RB Capital Partners, Inc. This funding, structured as 12-month promissory notes, is to be made available within three to six months. The capital will support the development, production, and distribution of UV-C sanitization products, which are experiencing high demand. Schools and local fitness organizations are engaged to help ensure safe reopening amidst the pandemic. The CEO expressed optimism about the company's continued growth and the potential for its innovative products.

Positive

• Secured over $5,000,000 in funding from RB Capital, enhancing financial position.
• Funds will facilitate development and increased production of in-demand UV-C sanitization products.
• Current deployment in schools and talks with local organizations indicate strong market demand.

Negative

• None.

CARLSBAD, CA / ACCESSWIRE / September 24, 2020 / OPTEC International, Inc (OTC PINK:OPTI) today announced that it has secured a $5,000,000+ funding approval with California based RB Capital Partners, Inc. ("RB Capital"). RB Capital has agreed to provide funding to the Company in the form of premium to market 12 month promissory notes. The minimum amount of funding that RB Capital has agreed to provide to the Company under these terms is $5,000,000 payable during the next three to six months period.

The proceeds will be used for further development, increased production, and distribution of a suite of UV-C sanitization products that the Company can't keep on the shelves due to increased demands. Currently, a prominent San Diego school district has deployed the touchless temperature scanners in addition to the Rover room sanitizers, and the Company is in talks with other local school districts to help safely re-open in person tuition. The company is also in discussion with a popular non-profit fitness organization to help safely re-open indoor activities.

Optec International CEO stated, "The application and potential implementation of the company's UV-C sanitization and pre-emptive "Safe-Scan" touchless temperature scanning products are endless. We are very excited to offer this effective combination of non-toxic sterilization and temperature scanning technology to the world and are pleased to have engaged with a long-term funding partner who clearly understands the vision of the Company."

About OPTEC International, Inc.

With Locations in Carlsbad and Vista, California, OPTEC International is a developer and manufacturer of electronic LED, Ultraviolet (UV) & UV-C safety products and related advanced technologies and PPE (Personal Protection Equipment) products. The company's Safe-Scan product line is being launched at a time when HR directors and facilities managers are experiencing extreme concern with respect to keeping environments safe during the global pandemic crisis and the safe reopening of the U.S. economy. For more information visit: www.optecuvc.com

Safe Harbor Statement: Safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as Opti, OPTEC or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions, or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. OPTEC International Inc.

OPTEC International, Inc.

Contact: info@optecintl.com
Product Call Center: 877-955-8787
Investor Relations: 442-222-0550

SOURCE: Optec International, Inc.

View source version on accesswire.com:
https://www.accesswire.com/607536/OPTEC-International-Inc-OPTI-Secures-5000000-Financing-for-Expansion-of-UV-C-Sterilization-Products-to-Help-Safely-Re-Open-Economy-Amidst-Increased-Pandemic-Case-Reports

FAQ

What recent funding did OPTEC International (OPTI) secure?

OPTEC International secured over $5,000,000 in funding from RB Capital Partners.

How will OPTEC International use the recent funding?

The funding will be used for the development, production, and distribution of UV-C sanitization products.

What are OPTEC International's plans regarding school districts?

OPTEC is in discussions with local school districts to deploy its sanitization products for safe reopening.

What type of financial instruments is OPTEC using for funding?

OPTEC is utilizing premium to market 12-month promissory notes for funding.

What is the stock symbol for OPTEC International?

The stock symbol for OPTEC International is OPTI.