Stamford International Inc. Announces Major Acquisition.TORONTO--(BUSINESS WIRE)--Oct. 16, 1996--Stamford International (CANADIAN DEALING NETWORK Canadian Dealing Network (CDN) The organized OTC market of Canada. Formerly known as the Canadian Over-the-Counter Automated Trading System (COATS), the CDN became a subsidiary of the Toronto Stock Exchange in 1991. STFD STFD Shut the Front Door (band) STFD Single Transistor Flyback Driver STFD Sit The Flip Down (polite form) STFD Sit the Fudge Down (polite form) .) Stamford International Inc. ("Stamford" or the "Company") announces that it has entered into a memorandum of agreement A memorandum of agreement (MOA) or cooperative agreement is a document written between parties to cooperatively work together on an agreed upon project or meet an agreed upon objective. The purpose of an MOA is to have a written understanding of the agreement between parties. for an option to purchase a 60 percent equity interest in U.S. Integrated Optics Combining electrical and optical components on the same silicon-based substrates used in the fabrication of a semiconductor chip. Also called "silicon photonics," fiber-optic communications employs numerous integrated optics devices, including lasers, photodetectors, beam splitters, Inc. ("USIO"), an Illinois company possessing the exclusive worldwide rights for a micro-cavity laser technology. This technology is currently the subject of a joint venture project between USIO and Northwestern University Northwestern University, mainly at Evanston, Ill.; coeducational; chartered 1851, opened 1855 by Methodists. In 1873 it absorbed Evanston College for Ladies. in Illinois. The Company believes that this technology will lead to the development of a laser technology that will eliminate many of the deficiencies of lasers and light emitting diodes See LED. ("LEDs") currently in use. This technology consists of a ring-structured microcavity light emitting device and a unique way of making use of the light that it generates. The ring-structured microactivity light emitting device technology ("MLT (MultiLink Trunking) See port aggregation. ") offers two primary advantages over conventional lasers and LEDs: first, it will enable the creation of low cost, low power consuming, highly efficient photonic integrated circuits A Photonic Integrated Circuit (PIC) is a device that integrates multiple photonic functions and as such is analogous to an Electronic Integrated Circuit. However the major difference between the two being that a photonic integrated circuit provides functionality for information ("PICs"); second, the components are submicroscopic submicroscopic /sub·mi·cro·scop·ic/ (-mi?kro-skop´ik) too small to be visible with the light microscope. sub·mi·cro·scop·ic adj. and thousands of them can be combined to form high density photonic integrated circuits ("HDPIC's") resulting in a component density vastly higher than conventional PICs. These improvements will allow the development of a family of superior visible light laser/LEDs with a broad array of applications and high market acceptance. Among the more exciting market opportunities for the MLT is the use of blue light lasers/LEDs in optical storage (such as CD- ROMs). Blue light lasers/LEDs has the potential to increase the storage capacities of CDS from four to ten times what can be achieved using red lasers/LEDs. Improved storage capabilities will be well received by computer users, large and small, as they must constantly expand their storage capacities to accommodate the rapid expansion of retained electronic data. Improved storage will also have numerous applications in related products, such as storing multiple full-length motion pictures on a five inch CD. In addition, blue lasers/LEDs are expected to significantly improve image resolution in image recording and laser printing. The Company expects that a family of lasers/LEDs with multiple wavelengths base don improved microcavity light-emitting-device technology will have other wide scale applications, including barcode scanning, entertainment, communications and, eventually, optical computing. The Company is of the opinion that the blue ultraviolet semiconductor laser, when available, will revolutionize rev·o·lu·tion·ize tr.v. rev·o·lu·tion·ized, rev·o·lu·tion·iz·ing, rev·o·lu·tion·iz·es 1. To bring about a radical change in: Television has revolutionized news coverage. 2. the way the world does its copying, printing and storing of data and create enormous markets for those companies with the technology. Low cost UV-base lasers will constitute a significant component in the colour copier, printer, and fax market which is projected to grow to $8 billion by 2003. The largest market affected by this technology is optical storage which, forecasters say, will grow to $30 billion by 2003. If the option is exercised, the purchase price for the 60 percent interest will be US$6,400,000 to be paid over the next 3 years. The Company has already purchased 297,301 shares of USIO for US$220,000 with US$1,800,000 due on October 21, 1996, US$500,000 due on March 1, 1997, US $1,000,000 due on August 15, 1997, US$700,000 due on December 1, 1997, and the balance of US$2,180,000 due by June 1999. All funds shall be used by USIO towards the ongoing operations of the laser technology joint venture project. The Company proposes to raise $2,500,000 by way of a private placement of units at a price of $1.00 per unit. Each unit will consist of one share and one share purchase warrant, exercisable at $1.25 during the first year and at $1.50 during the second year. Proceeds will be used to fund the USIO purchase. The shares of the Company are quoted on the Canadian Dealing Network under the trading symbol Trading symbol See: Ticker symbol - STFD. CONTACT: Stamford International Inc. Mr. Michael W. Manley, 416/ 862-0887 416/862-2204 (FAX) |
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