Elron Announces Completion of $6 Million Investment in AMT by Elron and Strategic Partner.TEL AVIV Tel Aviv (tĕl əvēv`), city (1994 pop. 355,200), W central Israel, on the Mediterranean Sea. Oficially named Tel Aviv–Jaffa, it is Israel's commercial, financial, communications, and cultural center and the core of its largest , Israel -- Elron Electronic Industries Ltd. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ELRN) has announced the completion of a $6 million round of financing in A.M.T. Advanced Metal Technologies Ltd. ("AMT See vPro. "), an Elron group company, in which Elron invested together with an international strategic partner. Elron invested approximately $3 million in the round of financing. In addition to the $6 million investment, existing AMT shareholders, including Elron, converted shareholder loans in the aggregate amount of approximately $3 million. As a result of the transaction, Elron increased its ownership interest from approximately 28% to approximately 35% on a fully diluted basis. Doron Birger, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Elron said: "This investment is a significant step in the building of the AMT group. With the new financing and the addition of a strategic partner, we look forward to further developing our existing innovative heating and sensoring products based on amorphous metals, and the development of new products for various industrial and high-tech applications." AMT, operating through its group companies, develops, markets and licenses technologies for amorphous and nano-crystalline advanced materials Advanced Materials is a leading peer-reviewed materials science journal published every two weeks. Advanced Materials includes Communications, Reviews, and Feature Articles from the cutting edge of materials science, including topics in chemistry, physics, , as methods and a solution for a wide range of commercial applications. The amorphous materials exhibit magnetic, electrical, mechanical and chemical properties that enable the enhancement of existing products and applications, as well as the introduction of new products and solutions for various industrial and high-tech applications and markets. AMT operates through its group companies, in four main fields: heating, sensoring (authentication (1) Verifying the integrity of a transmitted message. See message integrity, e-mail authentication and MAC. (2) Verifying the identity of a user logging into a network. and anti-shop lifting), electronic shielding and electronic elements. Elron Electronic Industries Ltd. is a multinational high technology holding company based in Israel. Through affiliates, Elron is engaged with a group of high technology operating companies operating company A business that engages in transactions with outsiders. in the fields of medical devices, advanced defense electronics, communication, IT software, semiconductors and amorphous metals. For further information, visit http://www.elron.com Any statements in this press release that may be considered forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. are subject to risks and uncertainties that could cause actual results to differ materially. Actual results may differ from such forward-looking statements due to the risk factors discussed in periodic reports filed by the Company with the Securities and Exchange Commission, which the Company urges investors to consider. |
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