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SI Diamond Technology, Inc. Announces Marketing Agreement
AUSTIN, Texas--(BUSINESS WIRE)--Nov. 18, 1998--SI Diamond Technology, Inc. (OTC:BB:SIDT) announced today that its subsidiary, Electronic Billboard Technology, Inc. ("EBT"), has signed a marketing agreement with Vision Mark LLC ("Vision Mark"). Under the terms of the agreement, Vision Mark will exclusively represent EBT with several high-profile retail clients. EBT expects to place electronic billboards on site at various retail locations. Details are expected to follow in the near future.
In conjunction with this announcement, SI Diamond also said that the previously announced letter of intent from EBT Acquisition Company to purchase EBT has been terminated by mutual agreement of the parties. SI Diamond Chairman, Marc Eller stated, "The entire reason for the proposed sale of EBT was to raise capital for SI Diamond. These new positive developments should enable SI Diamond to raise new capital without the sale of any of its subsidiaries."
SI Diamond Technology is a holding company consisting of two wholly owned subsidiaries. The Field Emission Picture Element Technology, Inc. ("FEPET") subsidiary is developing products for applications using SIDT's proprietary field emission technology. The Electronic Billboard Technology, Inc. ("EBT") subsidiary is geared toward the commercialization of electronic digitized sign technology.
This press release contains forward looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, and is subject to the safe harbor created by those sections. The Company's actual results could differ materially from those projected in the forward-looking information. Future results may be impacted by risk factors listed from time-to-time in SIDT's SEC reports.
CONTACT:
SI Diamond Technology, Inc.
Doug Baker
512-339-5020, Ext, 108
KEYWORD: TEXAS
BW0055 NOV 18,1998
5:16 PACIFIC
08:16 EASTERN
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