WPCS Obtains Shareholder Approval for the Sale of Substantially All of the Assets of Seattle Operations

WPCS Obtains Shareholder Approval for the Sale of Substantially All of the 
Assets of Seattle Operations 
Divestiture Will Provide Over $1.5 Million in Working Capital 
EXTON, PA -- (Marketwired) -- 08/18/14 --  WPCS International
Incorporated (NASDAQ: WPCS) (the "Company"), which specializes in
contracting services for communications infrastructure and the
development of a digital currency trading platform, today announced
that on August 15, 2014 the Company held a special meeting of
stockholders at which a majority of the Company's shareholders
overwhelmingly approved the sale of substantially all of the assets
of its wholly-owned subsidiary WPCS International -- Seattle, Inc.
(the "Seattle Operations"). Over 94% of the total shares voted by the
majority of shareholders in this special meeting were in favor of
this transaction.  
The agreement proposes that EC Company, an Oregon-based electrical
contracting company, will purchase substantially all of the assets
and assume certain liabilities of the Seattle Operations, in an
all-cash transaction, at a target sales price of approximately $2.7
million, subject to certain adjustments based upon the closing date
balance sheet of the Seattle Operations. The Company expects that
this transaction will close on or around August 31, 2014 and that it
will generate over $1.5 million in working capital. 
According to Sebastian Giordano, Interim CEO of WPCS, "On behalf of
the Board of Directors and entire management team, we want to thank
our shareholders for demonstrating their support, evidenced by their
voting in favor of the sale of our Seattle Operations. This is yet
another critical milestone in our overall restructuring plan, and it
will provide the Company with, amongst other benefits, some much
needed working capital."  
About WPCS International Incorporated
 WPCS operates in two business
segments: (1) providing communications infrastructure contracting
services to the public services, healthcare, energy and corporate
enterprise markets worldwide; and (2) developing a digital currency
trading platform. For more information, please visit www.wpcs.com,
www.btxtrader.com and www.gocelery.com. 
Statements about the Company's future expectations, including future
revenue and earnings and all other statements in this press release,
other than historical facts, are "forward looking" statements and are
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements
involve risks and uncertainties and are subject to change at any
time. The Company's actual results could differ materially from
expected results. In reflecting subsequent events or circumstances,
the Company undertakes no obligation to update forward-looking
statements. 
INVESTOR CONTACT: 
Capital Markets Group, LLC
Valter Pinto
PH: (914) 669-0222 or (212) 398-3486
valter@capmarketsgroup.com 
 
 
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