EEEI 12.75x13.00
1:53PM
Electro Energy Receives Approval for NASDAQ SmallCap Market Listing
Company Expects to Begin Trading on December 31, 2004 DANBURY, Conn. - PRNewswire-FirstCall - Dec. 30
DANBURY, Conn., Dec. 30 /PRNewswire-FirstCall/ -- Electro Energy Inc. (BULLETIN BOARD: EEEI) , a developer and manufacturer of advanced rechargeable batteries, today announced it has received approval for listing on the NASDAQ SmallCap Market. The company's common stock is expected to begin trading on the NASDAQ SmallCap Market on December 31, 2004 under the symbol "EEEI." The company's common stock currently trades on the OTC Electronic Bulletin Board under the symbol "EEEI.OB."
Martin G. Klein, CEO of Electro Energy, said, "We are extremely pleased by the approval of our listing on the NASDAQ SmallCap Market. We believe it will broaden our investor base with additional brokers, funds and money managers, while providing our stockholders with a more liquid and efficient market in which to trade our shares, and increase our visibility in the financial community. The NASDAQ listing is one more milestone in the company's evolution as a public company. We are proud to be able to meet the standard of reporting and financial strength required by NASDAQ. This event, along with our continued U.S. government contracting activities and efforts to expand our Nickel-Metal Hydride battery manufacturing capabilities are evidence of the company's progress."
Pursuant to a December 1, 2004 agreement, Consulting For Strategic Growth I, Ltd. ("CFSG") provides Electro Energy with consulting, business advisory, investor relations, public relations and corporate development services, for which CFSG receives a fixed monthly fee for the duration of the agreement. Independent of CFSG's receipt of cash compensation from Electro Energy, CFSG may choose to purchase the common stock of Electro Energy and thereafter sell those shares at any time it deems appropriate to do so.
About Electro Energy
Electro Energy Inc., headquartered in Danbury, Connecticut, was founded in 1992 to develop, manufacture and commercialize high-powered, rechargeable bipolar nickel-metal hydride batteries for use in a wide range of applications. Its Colorado Springs operation supplies aerospace-grade high quality nickel cadmium batteries and components for satellites, aircraft and other specialty applications. Electro Energy Inc. is developing high power lithium rechargeable batteries utilizing the Company's proprietary design.