3D Printing Stocks

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Anyone ever hear of Puget Technologies? They claim to be a 3D printer company.

Puget and Weistek Sign MOU Strengthening 3D Printer Market Penetration Strategy

January 22, 2014 - 8:30 AM EST

Puget Technologies (OTCBB: PUGE) today announced an updated memorandum of understanding (MOU) was signed with Weistek, the award-winning international manufacturer of advanced 3D printers. The MOU is part of an ongoing collaboration to intensify domestic market distribution and services. It outlines additional terms between the two firms specific to the joint effort to develop new product and software enhancements to improve the consumer experience, including sales and support channels. This step furthers Puget’s plan to enter the U.S. 3D printer market in the coming fiscal quarter with an affordable high performance printer and related production parts. The terms of the agreement are not being disclosed at this time.

President and CEO of Puget Technologies Ron Leyland said, "A definitive contract with Weistek is in the works which will solidify our strategy to deliver the highest quality 3D consumer market technology.” He added, “Our engineering team is focusing on developing a user-friendly platform that will present an enjoyable and successful experience for consumers and enthusiasts.”

Improvements to the printer and related software are expected to near completion in the coming months. New features will include an enhanced “out-of-box experience” for all categories of consumers.

With the 3D printer market approaching $4 billion next year, public demand for the products is expanding, with companies such as Stratasys (SSYS), 3D Systems (DDD), and ExOne (XONE) vying for consumers’ attention. This agreement provides Puget with a foundation for competitive operational advantages to help deliver on its forecasted growth plans in 2014.

Details about Puget’s 3D printer division are found at http://www.pugettechinc.com.

About Puget Technologies (PUGE)

Puget Technologies is a publicly traded company on the OTCBB Market stock exchange under the ticker symbol PUGE. Headquartered in Ft. Lauderdale, Florida, Puget acquires, develops and sells leading edge consumer oriented products ready for rapid commercialization. Much of its resources are dedicated to research and development in order to provide consumers with quality options while meeting the expectations of its investors.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release only speaks as of the date of its distribution.

Copyright Business Wire 2014

Source: Business Wire (January 22, 2014 - 8:30 AM EST)

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