Dionics Inc (fka DION)

[db7]

Dionics, Inc. Reports Major Foreign Investment in the Company; CML Gains 62% Control, Injects $440K of New Capital for Growth
Press Release
Source: Dionics, Inc.
On 9:00 am EST, Tuesday November 3, 2009
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WESTBURY, N.Y., Nov. 3, 2009 (GLOBE NEWSWIRE) -- Dionics, Inc., (OTCBB:DION - News) a semiconductor / micro-electronics manufacturer best known for its high-reliability PV (photo-voltaic) MOSFET-Drivers, announced receipt of a major foreign investment in the Company. The new investor, Central Mega Limited (CML), a British Virgin Islands company, acquired a controlling 62% interest in Dionics, Inc. by purchasing a total of 13-million shares of its common stock. Of that total, 11-million were newly-issued shares purchased from the Company. An additional 2-million previously-owned shares were purchased from Bernard L. Kravitz, Company president, who also signed a two-year employment contract to continue as president and CEO. All 13-million shares were priced at $.04 each, resulting in an initial $440,000 Working Capital investment in Dionics, Inc. by CML, intended to support both current operations as well as future growth. Details appear in Dionics' SEC Form 8-K's filed on Oct.13 and Nov.3. Brean Murray, Carret & Co. served as exclusive financial advisor to Central Mega Limited in the transaction.


Related Quotes
Symbol Price Change
DION.OB 0.13 +0.03


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"We consider ourselves quite fortunate to have become associated with CML, for several reasons," Kravitz explains. "First, their financial strength puts a safety net under our Company, an invaluable asset in these difficult times." "Next," he continued, "that same financial strength, combined with their confidence in our technology, will permit us to more aggressively explore new products, new opportunities for growth and even potential strategic acquisitions that may become available, here and abroad." "Finally," he concluded, "their well-established marketing and manufacturing contacts in Asia, and particularly in China, provide us with entree to significantly larger markets for our leading product, PV MOSFET-Drivers." In closing, he then added, "In a year or two, we could look like a very different Company."



Forward-Looking Statements



Statements contained herein that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. When used herein the words "anticipate","believe", "estimate","plan","intend" and "expect" and similar expressions, as they relate to Dionics, Inc. or its manage-ment, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties and other factors that could cause the Company's actual results, performance, prospects and opportunities to differ materially from those expressed, or implied by these forward-looking statements. Certain of those factors are discussed in the Company's filings with the Securities and Exchange Commission. Except as required by the Federal Securities law, the Company does not undertake any obligations to release publicly any revisions to forward-looking statements to reflect events or circumstances after the date hereof or for any other reason.






Contact:
Dionics, Inc.Bernard L. Kravitz, President(516) 997-7474