IRVINE, Calif., March 30, 2015 /PRNewswire/ -- EP Global
Communications, Inc. (OTC-PINK: EPGL) In a new material
development to shareholders, EPGL has opened negotiations with
CooperVision, Inc. at $1.1 billion
for the exclusive Option to License their new ophthalmic
technologies. As previously disclosed publicly, CooperVision, Inc.
and EP Global Communications, Inc. have co-developed new contact
lens technologies, which has led to several new patent
filings. It is estimated by some industry experts that just
one of these newly developed technologies could add $5 billion annually to contact lens sales
worldwide.
CooperVision, Inc., who is represented by Tom Counts of Paul
Hastings, LLP in San
Francisco, has requested that EPGL immediately grant the
exclusive Option to License the technologies several months earlier
than EPGL had expected. Because of this new development and
the value of EPGL's work, EPGL has opened negotiations at
approximately $1.1 billion for the
exclusive Option to License on all of the technologies at
stake.
"We believe Mr. Counts is a reputable person we can work with
via a proposed intermediary. CooperVision, Inc. has the
potential opportunity with these new technologies, to dominate a
growing new space in contact lens technology, a new market segment
which companies such as Google, Novartis and J&J are publicly
vying for. We know that those companies would be keenly
interested in having this technology if they could," said
Michael Hayes, President of EPGL.
"The future of vision care is augmentation and electronic contact
lenses, in the opinion of many experts. A revolution not
unlike that of the smart phone is coming. A lot is at stake
here." EPGL management believes an amicable deal can be
reached between the companies in the near future.
In other developments, EPGL and AT&T continue work on
several newly identified Intellectual Properties. The two
companies signed a Development Agreement in December, 2014 and are
now exploring projects that may result from the jointly conceived
technologies. "These technologies are very timely in the
wearable area and we believe there is a very large untapped market
for them. We are very excited to be working with AT&T on
cutting edge technologies," said Hayes.
EPGL will keep the investment community informed as these and
other developments progress going forward.
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.
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SOURCE EP Global Communications, Inc.