Full Press Release Details
Antenna Group (for Ecology Coatings)
Ecology Coatings, Inc. Plans to be Publicly Held
Nano-Enabled Clean Coatings Company Signs Letter of Intent for APO
Akron, Ohio - November 7, 2006 - Ecology Coatings, Inc., a leading developer of
nano- engineered industrial coatings for cleaner, more efficient manufacturing,
entered into a letter of intent with OCIS Corp. (OTCBB: OCIC.OB) to become
publicly held through an alternative public offering (APO) transaction. Under
the terms of the APO, the Ecology Coatings shareholders will exchange their
stock for OCIS stock in a merger transaction. As a result of the APO, the
Ecology Coatings shareholders will control OCIS and change its name to "Ecology
Coatings, Inc." As part of the APO, Ecology Coatings is completing a private
placement of its securities to a group of accredited investors. The management
of Ecology Coatings will become the management of the public company.
"This APO marks a significant milestone in positioning Ecology Coatings for
future growth. It will give us access to the capital markets, provide a platform
for us to achieve higher public visibility and allow investors to value us in
relation to our publicly-traded peers," said Richard D. Stromback, Chairman of
Ecology Coatings. "For an innovative technology provider addressing an enormous
market like the industrial coatings industry, the APO strategy presents a
cutting-edge vehicle through which a private firm can become public and secure
"Going public through an APO gives us strategic access to the growth capital we
need to take Ecology Coatings from an innovative R&D shop to a full-scale,
dynamic commercial enterprise," said Ecology Coatings CEO Thomas Krotine. "Upon
completion of the APO and this financing round, Ecology Coatings will be able to
scale up its activities and tackle additional markets."
The APO is subject to the parties entering into a definitive agreement, which
will contain conditions typical in a transaction of this nature. The parties
intend to close the transaction within 90 to 120 days. OCIS is a public company
that has no operating business at present.
About Ecology Coatings
Ecology Coatings is a leader in the development of nano-engineered, ultra-violet
curable coatings that drive efficiencies and clean processes in manufacturing.
Leveraging a platform of integrated nano-material technologies, the company
creates proprietary coatings with unique performance attributes. Ecology
collaborates with industry leaders to develop revolutionary high-value,
high-performance coatings for military, automotive, industrial, electronic and
medical applications. Ecology Coatings is a privately held company based in
Akron, Ohio. For more information visit www.ecologycoatings.com.
Statements in this press release that are not historical fact may be deemed
forward- looking statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended. Although the Company believes the expectations reflected in any
forward-looking statements are based on reasonable assumptions, the Company can
give no assurance that its expectations will be attained. Factors that could
cause actual results to differ materially from the Company's expectations
include whether or not the Company enters into a definitive agreement or
completes the proposed APO transaction.