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
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.
Xodtec LED, Inc.
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