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Prism Technologies Group Enters into Asset Purchase Agreement with Amorphous Technologies International
Prism Technologies Group Enters into Asset Purchase Agreement with Amorphous Technologies International.
About this update from Prism Technologies Group Inc
[{"type":"text","content":"\n\n SACRAMENTO, Calif., Oct. 20, 2017 (GLOBE NEWSWIRE) -- Prism Technologies Group, Inc. (OTCQB:PRZM) (“Prism”), an intellectual property licensing and technology research & development company, announced that it has entered into an Asset Purchase Agreement with Amorphous Technologies International (“ATI”) to acquire certain intellectual property assets related to innovative uses for amorphous metals.  Following the close of the transaction, Prism will commercialize the acquired IP assets to create new amorphous metal technology offerings for the consumer electronics, automotive, industrial and other business sectors.\n Hussein Enan, Chairman and CEO of Prism, said, \"We are pleased to announce the next evolution of Prism’s strategy, leveraging one of the most innovative breakthroughs in the materials science world through amorphous metal alloys.  ATI’s valuable IP and expertise in technological innovations for amorphous metals applicable across multiple verticals present exciting new opportunities for Prism.  Under the Prism umbrella, we will work to license and deploy amorphous metal casting solutions that deliver value over conventional materials and methods through the use of superior materials technology and processes.” ATI is a leader in development of innovative amorphous alloy solutions based on proprietary materials technology.  ATI’s solutions deliver value by removing the limits of existing materials technology, which results in high costs throughout the lifecycle of a product. Bryan Reimers, President of ATI, added, “The time is right for amorphous metals.  We have made important process technology innovations over the past several years which will finally enable the production and deployment of this revolutionary materials technology.  Amorphous metals have the potential to fundamentally change the paradigm in materials science.  Our IP harnesses this technology to produce the world’s leading commercial solutions, and we are excited to execute our go-to-market strategy under Prism.” Pursuant to the terms of the Agreement, Prism will issue to ATI shares of newly designated Series A Convertible Preferred Stock.  The Series A Convertible Stock is convertible into 56,750,000 shares of Prism Common Stock on the ...