Parametric Sound Corporation Provides Update on Strategic Alternatives

Parametric Sound Corporation Provides Update on Strategic Alternatives 
SAN DIEGO, CA -- (Marketwired) -- 06/13/13 --  Parametric Sound
Corporation (NASDAQ: PAMT), a leading innovator of audio technology
and solutions, today provided an update regarding its previously
announced review of strategic alternatives. The Company reported May
2, 2013 that it had received a term sheet from a leader in one of its
target verticals, was undergoing due diligence and was also reviewing
strategic alternatives from additional parties. The Company's
investment bank Houlihan Lokey has been active in this comprehensive
evaluation and diligence process. 
"The strategic party's technology diligence phase has been completed
and demonstrated positive results regarding our patents and IP,
technology, products, markets and consumer preferences," said Kenneth
F. Potashner, executive chairman of Parametric Sound. "The review
process has also validated our findings regarding the substantial
improvement in hearing and clarity by persons with hearing loss.  
"We have now moved to an exclusive negotiating period and we are
working on definitive agreement terms and conditions," continued
Potashner. "While this strategic alternative is being considered, we
are executing on our operational plan to grow commercial revenues,
develop and co-develop products for consumer licensing, and develop
applications of our technology for the aging and hearing impaired
markets." 
About Parametric Sound Corporation
 Parametric Sound Corporation is a
pioneering innovator of directed audio solutions. With a substantial
body of intellectual property, Parametric Sound is the foremost
authority in the application of acoustic technology to beam sound to
target a specific listening area without the ambient noise of
traditional speakers. Distinct from surround sound, HyperSound(TM)
immerses listeners in a robust 3D audio experience from just two
speakers. The Company's disruptive technology is being marketed to
three global market sectors: Consumer Markets -- for PCs, gaming,
TVs, home theater and handhelds; Commercial Markets -- for digital
signage, kiosks and retail stores; and Health Care -- for an
out-of-ear solution being developed for the hearing impaired. For
more information, visit www.parametricsound.com.  
Cautionary note on forward-looking statements
 This press release
includes forward-looking information and statements. Except for
historical information contained in this release, statements in this
release may constitute forward-looking statements regarding
assumptions, projections, expectations, targets, intentions or
beliefs about future events that are based on management's belief, as
well as assumptions made by, and information currently available to,
management. While the Company believes that its expectations are
based upon reasonable assumptions, there can be no assurances that
its goals and strategy will be realized. Numerous factors, including
risks and uncertainties, may affect actual results and may cause
results to differ materially from those expressed in forward-looking
statements made by the Company or on its behalf. Some of these
factors include the substantial uncertainties inherent in evaluating
and pursuing strategic discussions including, but not limited to,
licensing, mergers, joint ventures, spin-offs or other corporate
transactions, acceptance of existing and future products regardless
of initial pilot successes or positive results from evaluation of our
technology by prospective partners, the difficulty of commercializing
and protecting new technology such as the Company's new emitter
technology, the impact of competitive products and pricing, general
business and economic conditions, and other factors detailed in the
Company's Annual Report on Form 10-K and other periodic reports filed
with the SEC. The Company specifically disclaims any obligation to
update or revise any forward-looking statement whether as a result of
new information, future developments or otherwise.  
CONTACT:
Tracy Neumann
888-HSS-2150, Ext. 509
tneumann@parametricsound.com  
INVESTOR RELATIONS CONTACT:
Dave Mossberg
Three Part Advisors, LLC
(817) 310-0051 
 
 
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