LAS VEGAS, Dec. 4, 2015 /PRNewswire/ -- XLI Technologies, Inc. (OTC PINK: XLIT) (the "Company" or "XLI") is pleased to announce that the Company recently engaged the services of investment banking firm Carter, Terry & Company ("Carter Terry") to assist in raising new capital.
As a result, the Company has closed a funding agreement for $250,000 with an individual accredited investor. Net proceeds from this financing are expected to be received by the Company over the next few days and are intended to fund XLI's ongoing expansion of LightSheets marketing and production. The Company anticipates closing additional funding agreements with other accredited investors identified by Carter Terry in the near future.
"We are very pleased to have connected with Carter Terry to help secure the first stage of funding required to quickly execute our LightSheets business strategy," commented James Schramm, CEO of XLI Technologies. "With this funding in place and additional funding expected, XLI can now move forward with new sales and marketing plans, and also prepare to expand our production capabilities to fill potential larger product orders."
Founded in 1985, Carter Terry is a full-service investment brokerage, investment banking, asset management, and banking services firm based in Atlanta, Georgia.
About XLI Technologies, Inc. (OTC PINK: XLIT)
XLI Technologies, Inc., through its wholly owned subsidiary, Bosch International, LLC, provides unique, versatile, durable, and eco-friendly Nanotechnology printed lighting products (LightSheets) to select companies in the automotive industry and to the entertainment sector, including movie theaters, movie studios, production and distribution companies, talent and management agencies, marketing and PR firms, and outdoor media in the USA and Canada. The Company is also exploring several other potential applications of the technology.
Notice Regarding Forward-Looking Statements
This press release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with intellectual property protection, marketing and sale, manufacturing and distribution and difficulties associated with obtaining financing on acceptable terms. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
SOURCE XLI Technologies, Inc.