OPTEC International Secures Significant PPE Contract

Rhea-AI Summary

OPTEC International, Inc (OTC PINK:OPTI) has announced a definitive agreement to supply over $2 billion in Personal Protection Equipment (PPE) to an International Commodities Consortium. This significant contract will enhance the company’s operations and necessitate the hiring of additional staff. The agreement has been fully executed, ensuring bank-certified funds are in place. Logistics agreements for distribution are also established, targeting healthcare and medical sectors with full distribution expected by December 2020.

Positive

• Secured a definitive agreement valued at over $2 billion for PPE supply, enhancing revenue potential.
• Logistics agreements in place for efficient distribution to healthcare sectors.
• Expansion of operations and staffing to support rapid growth due to the contract.

Negative

• None.

CARLSBAD, CA / ACCESSWIRE / November 5, 2020 / OPTEC International, Inc (OTC PINK:OPTI) today announced that it has successfully secured a fully executed definitive agreement for the supply of Brand Specific Personal Protection Equipment (PPE) products for a large International Commodities Consortium totaling in excess of $2 Billion Dollars US.

OPTEC CEO Roger Pawson commented "the company has been working for over a month to bring the transaction to successful closing and we are extremely happy to announce the execution of the definitive agreement and preparation of the massive logistics operation for the distribution of the products, furthermore OPTEC has entered into an additional agreement with an established Freight and Logistics organization for the transportation of products to the final destinations in the Healthcare, Medical, and Hospital sectors".

The company recently filed the following 8-K in accordance with SEC regulations:

Item 1.01 Entry into A Material Definitive Agreement.

1. If the registrant has entered into a material definitive agreement not made in the ordinary course of business of the registrant, or into any amendment of such agreement that is material to the registrant, disclose the following information:

On October 30, 2020 the Company (OPTEC) entered into a definitive agreement with a large International Commodities Consortium for the supply and distribution of Specific Brands of Personal Protection Equipment (PPE) for Medical & Hospital use throughout North America, totaling in excess of Two Billion Dollars $US. The agreement has been fully executed by the company and the buyer, along with proofed bank certified funds to complete the transaction in excess of $2 Billion Dollars US . The company (OPTEC) has already sourced and secured the products for the entire agreement, along with coordinating the logistics portion of the agreement. The product distribution is expected to be fully completed by December 2020.

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed the undersigned hereunto duly authorized.

https://www.sec.gov/Archives/edgar/data/1557340/000107997320000919/optec_8k.htm

In addition to the financial benefits to the company, shareholders and Investors the contract increased the need for the company to expand operations and the requirement for additional staff to oversee all aspects of the company's rapid growth.

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.

Investor Relations Contact:
Andrew Barwicki
516-662-9461 / Andrew@barwicki.com

Contact: info@optecintl.com

SOURCE: OPTEC International, Inc.

View source version on accesswire.com:
https://www.accesswire.com/614640/OPTEC-International-Secures-Significant-PPE-Contract