TAIPEI, Taiwan, May 11, 2010 (GLOBE NEWSWIRE) -- Xodtec LED, Inc. (OTCBB:XODG), a leading LED lighting solutions provider, announces the Company has successfully completed a private placement financing for USD$805,724. "We are proud that in the context of the current financial market environment we have been able to complete this equity financing for the company," says Curtis Su, CEO of Xodtec LED. Private Investors have purchased 1,134,823 of the Company's common shares at the price of $0.71 per share for total of $805,724. The proceeds from this private placement will be used for general working capital purposes towards the Company's operations. About Xodtec LED, Inc. Xodtec is an energy-saving LED lighting solutions provider based in Taiwan. Xodtec provides high performance and cost-effective energy-saving LED solutions and lighting products for private companies, public facilities, residential communities, factories and households, providing optimal energy-saving solutions that meet today's energy management requirements. Please visit the Company's website http://www.xodtec.com for detailed company information. Information on the Company's website or any other website does not constitute a part of this press release. The Xodtec LED, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7143 Safe Harbor Statement This press release contains certain statements that may include "forward looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. These statements involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements. CONTACT: Xodtec LED, Inc. Ethan Chang 011-886-2-2228-6276 firstname.lastname@example.org http://www.xodtec.com Xodtec LED, Inc.
Xodtec LED Announces Private Placement Financing
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