IRVINE, Calif., March 16, 2015 /PRNewswire/ -- EP Global
Communications, Inc. (OTC-PINK: EPGL) announces new material
developments. It was previously disclosed publicly in
2014 that EPGL and CooperVision, Inc. (COO NYSE The Cooper
Companies Inc.) were engaged in a Development Agreement for new
ophthalmic and medical technologies.
In a material development for EPGL, CooperVision, Inc. through
its in-house IP counsel Muriel Haritchabalet, has asked EPGL to
grant an immediate exclusive Option to License its technologies
nearly one year earlier than EPGL expected. CooperVision,
Inc. has now engaged outside IP counsel Tom
Counts of Paul Hastings LLP to negotiate with
EPGL.
EPGL is now considering the request with its own counsel and
believes that the Development Agreement between the two companies
requires that first, good faith negotiations are engaged in under
the Agreement to compensate EPGL the maximum amount of money going
forward, fairly for its work and joint ownership of the IP with
CooperVision, Inc.
"We understand why CooperVision, Inc. wants to acquire this
Option to License sooner than later because the subject
technologies will potentially enable $5
billion new dollars in the field of ophthalmic annually
according to experts in the field," said Michael Hayes President of EPGL. "This is
a very significant development and EPGL will look out for its
interests in any negotiation and expects the Development Agreement
to be adhered to."
EPGL expects that CooperVision, Inc. will agree to abide by the
Development Agreement terms and negotiate the required Agreements
in good faith prior to EPGL granting the Option it is
requesting. "We do believe we will successfully negotiate the
granting of the Option to CooperVision, Inc. and have some news
very soon on this topic for EPGL shareholders. Stay tuned,"
said Hayes.
About EP Global Communications, Inc.
EP Global Communications, Inc. is an advanced technology research
and development company for both medical devices and consumer
electronics devices specializing in microelectronic mechanical
systems (MEMS).
Safe Harbor Statement
Certain matters discussed in this press release are
"forward-looking statements" intended to qualify for the safe
harbors from liability established by the Private Securities
Litigation Reform Act of 1995. In particular, the Company's
statements regarding trends in the marketplace and potential future
results are examples of such forward-looking statements. The
forward-looking statements include risks and uncertainties,
including, but not limited to, the timing of projects due to the
variability in size, scope and duration of projects, estimates made
by management with respect to the Company's critical accounting
policies, regulatory delays, clinical study results which lead to
reductions or cancellations of projects, and other factors,
including general economic conditions and regulatory developments,
not within the Company's control. The factors discussed herein and
expressed from time to time in the Company's filings with the
Securities and Exchange Commission could cause actual results and
developments to be materially different from those expressed in or
implied by such statements. The forward-looking statements are made
only as of the date of this press release and the Company
undertakes no obligation to publicly update such forward-looking
statements to reflect subsequent events or circumstances.
RELATED LINKS
http://www.epglmed.com
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SOURCE EP Global Communications, Inc.