PCT
Ltd. (PCTL)
Received
$400,000
in
Financing
for Expansion of Annihilyzer®
Infection Control Systems and Other Products Amidst
Increased COVID-19
Case
Reports
LITTLE
RIVER, SC -- October 20,
2020 -- InvestorsHub NewsWire -- PCT LTD
(OTC Pink: PCTL)
today announced
that it has received $400,000 in
funding
from
California
based RB
Capital Partners, Inc. ("RB
Capital"). RB Capital has
provided funding to the Company in the
form of two 12-month premium-to-market convertible notes. The
notes accrue interest at
5% per annum,
are convertible at a rate
of $0.20 per share and do not
include any ratchet clauses or warrant
coverage. The entire $400,000
investment has been received by the Company
as of October 16, 2020.
The proceeds will be used for
further development, increased
production, and distribution of a suite
of technologies and
products
aimed at the
prevention and treatment of infectious disease including but not limited to
the coronavirus. The Company's patented
systems and safe fluid products are providing hospitals and
the healthcare industry at large with cutting edge disinfecting and
decontaminating solutions that combat microbial
infection.
PCT Ltd. CEO, Gary Grieco, stated, "We are incredibly pleased to
announce our funding partnership with RB Capital.
They are the
long-term funding partner we have
been looking for which will enable us to execute
on both
our short-
and long-term goals." Grieco further
comments, "Now we are able to get ahead of the orders we're
receiving by purchasing the necessary inventory to serve our
distributors, their customers and our U.K. partners, building our
equipment inventory to more quickly meet demand."
About PCT Ltd:
PCT LTD ("PCTL")
focuses its business on acquiring, developing
and providing
sustainable, environmentally safe disinfecting, cleaning and
tracking technologies. The company acquires and holds rights to
innovative products and technologies, which are commercialized
through its wholly-owned
operating
subsidiary, Paradigm Convergence Technologies Corporation (PCT
Corp). Currently trading on OTC:PINK, "PCTL" is actively engaged
in applying for listing its common stock to the OTC QB market. The
Company established entry into its target markets with commercially
viable products in the United States and now continues to gain
market share in the U.S. and U.K.
ADDITIONAL NEWS
AND CORPORATE UPDATES:
PCTL would like
to warn its stockholders and potential investors that material
corporate information regarding sales, areas of business and other
corporate updates will only be made through press releases or
filings with the SEC. PCTL does not utilize social media, chatrooms
or other online sources to disclose material information.
The public should only rely
on official press releases and corporate filings for accurate and
up to date information regarding PCTL.
Forward-Looking
Statements:
This press
release contains "forward-looking statements" as defined in Section
27A of the Securities Act of 1933, as amended, and Section 21B of
the Securities Exchange Act of 1934, as amended. Any statements
that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, goals,
assumptions or future events or performance are not statements of
historical fact and may be "forward-looking statements."
Such statements
are based on expectations, estimates and projections at the time
the statements are made that involve a number of
risks and
uncertainties, which could cause actual results or events to differ
materially from those presently anticipated. Such statements
involve risks and uncertainties, including but not limited to: the
ability of PCTL to fulfill orders to the United Kingdom; PCTL's
continued installation of equipment;
subsequent installations of PCTL's Annihilyzer Infection Control
Systems and other larger-volume equipment; PCTL's ability to raise
sufficient funds to satisfy its working capital requirements; the
ability of PCTL to execute its business plan; any other effects
resulting from the information disclosed above; risks and effects
of legal and administrative proceedings and government regulation;
future financial and operational results; competition; general
economic conditions; and the ability to manage and continue growth.
Should one or more of these risks or uncertainties materialize, or
should underlying assumptions prove incorrect, actual outcomes may
vary materially from those indicated. Important factors that could
cause actual results to differ materially from the forward-looking
statements PCTL makes in this press release include market
conditions and those set forth in reports or documents it files
from time to time with the SEC. PCTL undertakes no obligation to
revise or update such statements to reflect current events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
Gary Grieco, CEO
and Chairman, PCT LTD
+1(843) 390-7900
Office
www.para-con.com
www.pctcorphealth.com
www.survivalyte.com
Rich Inza,
Investor Relations (RMJ Consulting, LLC)
+1(843)
491-4611
IR@para-con.com