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Technology Stocks : LUMM - Lumenon Innovative Lightwave Technology Inc. -- Ignore unavailable to you. Want to Upgrade?

To: David S. Dennison who wrote (563)	7/28/1999 9:43:00 AM
From: topstock	Read Replies (1) \| Respond to of 2484

Press Release: Wednesday July 28, 9:14 am Eastern Time Company Press Release Lumenon: Private Placement and Chief Operating Officer DORVAL, Quebec--(BUSINESS WIRE)--July 28, 1999--Lumenon Innovative Lightwave Technology Inc. (OTC BB:LUMM - news) is pleased to announce that it has closed a private placement, initiated in the beginning of June 1999. The private placement of 960,000 units amounts to gross proceeds of US$960,000. Each unit is comprised of one common share and one share purchase warrant entitling the holder to acquire one additional common share at a price of US$1.50 for a period of 24 months. The proceeds from this financing will be used to bring to market the photonic chips that the Company has already developed, and to introduce new products to the photonics market. Lumenon is also pleased to announce the appointment of Dr. Chia-Yen Li as the Chief Operating Officer of the Company. A graduate of the University of California at Los Angeles (UCLA), Dr. Li is an expert in the field of sol-gel technology and has ten years of experience in development of sol-ge a Senior Scientist at MicroTouch Inc. where he designed and developed touch panel manufacturing processes. Lumenon designs, develops and builds photonic devices in the form of compact hybrid glass circuits on silicon chips. Lumenon's shares are listed under the symbol LUMM (OTC BB). For more information on Lumenon contact: Stephen Litwin, Investor Relations, Tel. 514-631-0023, Fax: 514-631-0053. More information on Lumenon is available at lumenon.com. This press release contains certain ''forward-looking'' statements, as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors are detailed from time to time in the Company's filings with the regulatory authorities having jurisdiction. No regulatory authority has approved nor disapproved the content of this release. Contact: Lumenon Innovative Lightwave Technology, Inc. Stephen Litwin, 514/631-0023 514/631-0053 (FAX) lumenon.com Regards, TOPSTOCK