SIOUX FALLS, South Dakota, May 22, 2017 /PRNewswire/ --
Kasten Inc. (OTC Pink: KAST)
Kasten's DAKOTA Life Sciences has now received a letter of financial support approval from Commissioner Catherine H. Smith of the Connecticut Department of Economic Development (DECD). This support is comprised of an initial $100,000 Small Business Express Matching Grant and a Small Business Express Job Creation Incentive loan in the amount of up to $299,000.
"We are quite pleased to partner with the State of Connecticut and the City of Bridgeport," according to Steven Keough, the President of Kasten and Chief Operating Officer of DAKOTA Life Sciences. "We expect this initial collaboration will be expanded as our tempo increases" Keough added. The funds from the loan and grant will be utilized for machinery and equipment, as well as leasehold improvements at the Company's Bridgeport facility. Certain additional milestones must be met prior to accessing these DECD funds, and the Company is diligently advancing each of those milestones. The City of Bridgeport Office of Economic Development, headed by Mr. Thomas Gill, has been heavily involved in attracting high quality pharmaceutical and life sciences companies as part of a strategic economic growth plan for the area.
About Us: Kasten, Inc. (OTC Pink: KAST) is a biopharmaceutical company focused on the acquisition, development, and commercialization of pharmaceuticals designed to prevent and treat serious conditions arising both in hospital and community settings. We are principally focused on delivering solutions to those people who cannot afford to miss a day of work, but whom are burdened by high risk of morbidity and healthcare costs.
Forward-Looking Statements - This press release contains "forward-looking statements" 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 and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that could cause future results to differ materially from the forward-looking statements. You should consider these factors in evaluating the statements herein, and not rely on such statements. The forward-looking statements in this release are made as of the date hereof and Kasten, Inc. undertakes no obligation to update such statements.
SOURCE Kasten Inc.