Ascent Solar Technologies Inc (ASTI)

[Deagle]

Good news out! Strategic Investor Increases Shareholding in Ascent Solar to Beyond 12%

THORNTON, CO--(Marketwired - Jun 20, 2017) - Ascent Solar Technologies, Inc. (OTCQB: ASTI), a developer and manufacturer of state-of-the-art, lightweight, and flexible thin-film photovoltaic (PV) solutions, announced that Hong Kong Boone Group Limited ("Boone Group") has elected to convert another 1,400 shares ($1,400,000 of invested capital) of the Series K Convertible Preferred Stock ("Series K Preferred Stock") into Common Stock of the Company at the fixed price of $0.0040 per share, pursuant to the Securities Purchase Agreement ("Agreement") between the Company and Boone Group which was entered into on February 8, 2017.

Upon conversion, the Company issued an additional 350,000,000 shares of restricted Common Stock to the Boone Group. In aggregate, Boone Group has converted $3.2M worth of the Series K Preferred Stock and now owns 800,000,000 shares of the Company, which represents approximately 12.1% of the Company's total outstanding shares post conversion. The fixed conversion price of $0.0040 per share represents a significant premium of 800% to the Company's latest closing price of $0.0005 prior to the conversion notice.