Business
OPTEC International Secures Significant PPE Contract
OPTEC International Secures Significant PPE Contract.
About this update from Optec International, Inc.
[{"type":"text","content":"CARLSBAD, CA / ACCESSWIRE / November 5, 2020 / OPTEC International, Inc (OTC PINK:OPTI) today announced that it has successfully secured a fully executed definitive agreement for the supply of Brand Specific Personal Protection Equipment (PPE) products for a large International Commodities Consortium totaling in excess of $2 Billion Dollars US.OPTEC CEO Roger Pawson commented "the company has been working for over a month to bring the transaction to successful closing and we are extremely happy to announce the execution of the definitive agreement and preparation of the massive logistics operation for the distribution of the products, furthermore OPTEC has entered into an additional agreement with an established Freight and Logistics organization for the transportation of products to the final destinations in the Healthcare, Medical, and Hospital sectors".The company recently filed the following 8-K in accordance with SEC regulations:Item 1.01 Entry into A Material Definitive Agreement.If the registrant has entered into a material definitive agreement not made in the ordinary course of business of the registrant, or into any amendment of such agreement that is material to the registrant, disclose the following information:On October 30, 2020 the Company (OPTEC) entered into a definitive agreement with a large International Commodities Consortium for the supply and distribution of Specific Brands of Personal Protection Equipment (PPE) for Medical & Hospital use throughout North America, totaling in excess of Two Billion Dollars $US. The agreement has been fully executed by the company and the buyer, along with proofed bank certified funds to complete the transaction in excess of $2 Billion Dollars US . The company (OPTEC) has already sourced and secured the products for the entire agreement, along with coordinating the logistics portion of the agreement. The product distribution is expected to be fully completed by December 2020.Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed the undersigned hereunto duly authorized.https://www.sec.gov/Archives/edgar/data/1557340/000107997320000919/optec_8k.htmIn addition to the financial benefits to the company, shareholders and Investors the contract increased the need for the company to expand operations...