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Photon Control Clarifies Recent Press Release Regarding Non-Binding Letter of Intent to Resolve LitigationBURNABY, BC, March 20, 2017 /CNW/ - Photon Control Inc. ("Photon Control" or the "Company") (TSX-V: PHO), a leading developer of optical measurement technologies, announces that a press release issued earlier today regarding a non-binding Letter of Intent with Photon Control R&D Ltd. ("LOI") was issued without Board or management approval. Photon Control has been in negotiations to settle the dispute with Photon Control R&D Ltd. and related parties for over six months. It is important to note that no definitive agreement has been reached, and that the LOI is non-binding, and has not been formally approved by management or the Board of the Company. Accordingly, the Company cautions that until binding definitive agreements are signed by all relevant parties, there can be no assurance that a settlement will be concluded on the terms described in today's earlier press release or at all. About Photon Control Inc. Neither 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 release. SOURCE Photon Control Inc. |