VANCOUVER, BRITISH COLUMBIA–(Marketwired – Nov. 16, 2015) – Elissa Resources Ltd. (TSX VENTURE:ELI)(FRANKFURT:E3O) (“Elissa”) and Spectrum Optix Inc. of Calgary, Canada (“Spectrum” and together with Elissa, the “Companies”) announced today that Spectrum has been invited to participate in the Aerospace Industries Association of Canada’s 2015 Canadian Aerospace Summit in Ottawa, Ontario on November 17th and 18th.
Alberta Innovates Technology Futures (AITF) has invited and will be co-hosting Spectrum as part of a contingent of small and medium sized Alberta technology firms to attend the summit.
John Daugela, President and CEO of Spectrum Optix, is also scheduled to participate in a presentation session with representatives from a leader in global aerospace, defense and security.
About Alberta Innovates Technology Futures (AITF)
AITF helps technical industries find solutions, develop products and move technologies to market. It’s building on Alberta’s already established advantage in platform technologies – like nanotechnology, information communications technologies, and genomics – to enhance the technical capacity within Alberta’s high-tech companies. It’s facilitating access to the strengths of key partners that help support commercialization and grow new ventures. AITF is investing in and attracting research and entrepreneurial talent who can support these priorities.
About the 2015 Canadian Aerospace Summit
The 2015 Canadian Aerospace Summit is an exclusive event bringing together Canadian and international companies of all sizes, government, and academia for two days in the nation’s capital. More than 1,000 participants-primarily C-suite executives and government officials-are expected to attend.
About Spectrum Optix
Spectrum Optix Inc. is developing technologies relating to imagery and light concentration applications. Utilizing its core technology, which contains flat lenses, Spectrum aims to disrupt conventional lens and image capture-based systems, which may include telescopes, cameras and mobile devices, by creating a lens system that reduces the depth currently required in many traditional curved lens stacks.
About Elissa Resources
Elissa has an option to acquire, in the aggregate, 100% of Spectrum Optix, and is in the process of changing from a Mining Issuer to a Technology Issuer on the TSX Venture Exchange (the “Change of Business” or the “COB”). The COB is subject to regulatory and shareholder approvals and upon completion Elissa intends to change its name to Nexoptic Technology Corp. or such other name as the Elissa board of directors may determine and the Exchange will assign a new trading symbol at the time of the formal name change. The shares in the Company are halted and are expected to remain halted pending receipt by the TSX Venture Exchange of required documentation.
On behalf of the Boards of Directors
Elissa Resources Ltd.
Paul McKenzie, President & CEO
Spectrum Optix Inc.
John Daugela, President & CEO
Forward Looking Statements:
This press release contains certain forward-looking statements that reflect the current views and/or expectations of the Companies with respect to, among other things: expectations concerning the exercise of the options under the Investment Agreement and completion of the COB.. The reader is cautioned that forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other factors which are difficult to predict and that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Companies operates and are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including, among others, that: they may not have access to financing on acceptable terms or at all in order to exercise the options under the Elissa’s formal agreement with Spectrum and its shareholders; it may not receive all necessary regulatory and shareholder approvals; or the conditions to Elissa’s options to acquire Spectrum shares may not be otherwise satisfied; and other risks inherent with the patent process, transactions of this type and development of new technologies or the business of Spectrum and/or Elissa. Such forward-looking statements should therefore be construed in light of such factors. Other than in accordance with its legal or regulatory obligations, Elissa is not under any obligation and it expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Completion of the COB is subject to a number of conditions, including Exchange acceptance and disinterested shareholder approval. The COB cannot close until the required shareholder approval is obtained. There can be no assurance that the COB will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the filing statement to be prepared in connection with the COB, any information released or received with respect to the Change of Business may not be accurate or complete and should not be relied upon. Trading in the securities of Elissa should be considered highly speculative. The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. Haywood Securities Inc., subject to completion of satisfactory due diligence, has agreed to act as sponsor to the Company in connection with the transaction. An agreement to sponsor should not be construed as any assurance with respect to the merits of the transaction or the likelihood of completion.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
President & CEO
(1) 604 669 7330
Spectrum Optix Inc.
President & CEO