ProPhotonix Limited PROPHOTONIX SECURES £700,000 TERM LOAN (4430R)

TIDMPPIX

RNS Number : 4430R

ProPhotonix Limited

14 June 2018

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain

June 14, 2018

ProPhotonix Limited

("ProPhotonix" or "the Company")

PROPHOTONIX SECURES GBP700,000 TERM LOAN

ProPhotonix Limited (London Stock Exchange - AIM: PPIX & PPIR, OTC: STKR), a high technology designer and manufacturer of LED illumination systems and laser diode modules, with operations in Ireland and the United Kingdom, today announces it has entered into a GBP700,000 four year term loan facility with SQN Secured Income Fund PLC ("SQN"). The loan carries an interest rate of 10% and is repayable in monthly instalments starting in July 2018. The loan is secured by way of a fixed and floating charge over certain assets of the Group.

Ed Dolan, CFO, Commented:

"We are pleased to partner with SQN on this loan facility. The funds will assist us in acquiring additional machinery and equipment to continue the expansion of our UV LED manufacturing operations as well as provide working capital toward the growth of the business."

Enquiries:

 
 ProPhotonix Limited                    Tel: +1 603 893 8778 
  Tim Losik, President and CEO           ir@prophotonix.com 
  Cantor Fitzgerald Europe 
   (Nominated Adviser and Broker)      Tel: +44 (0)207 894 7000 
   David Foreman 
   Richard Salmond

About ProPhotonix

ProPhotonix Limited, headquartered in Salem, New Hampshire, is a high technology designer and manufacturer of diode-based laser modules and LED systems for industry leading OEMs and medical equipment companies. In addition, the Company distributes premium diodes for Ushio, Osram, QSI, Panasonic, and Sony. The Company serves a wide range of markets including the machine vision, industrial inspection, security, and medical markets. ProPhotonix has offices and subsidiaries in the U.S., Ireland, U.K., and Europe. For more information about ProPhotonix and its innovative products, visit the Company's web site at www.prophotonix.com.

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