Nasdaq Notifies Bolder Technologies of Delisting

Apr 03, 2001, 01:00 ET from Bolder Technologies Corporation

    GOLDEN, Colo., April 3 /PRNewswire/ -- Bolder Technologies Corporation
 (Nasdaq: BOLD) today announced that it has been notified by The Nasdaq Stock
 Market that its common stock will be delisted from trading on the Nasdaq
 National Market at the opening of business on April 6, 2001.
     Bolder expects that the trading halt announced by the Nasdaq Stock Market
 on March 9, 2001 will remain in place until its common stock is delisted on
 April 6, 2001.  Bolder's common stock will not be listed on the Over the
 Counter Bulletin Board and, therefore, there may be no trading market or
 liquidity available for the stock.
     Bolder is continuing to work with its outside advisors to develop
 strategic alternatives.  The Company has been unsuccessful in attracting
 additional financing and it does not expect to secure any additional
 financing; therefore, the Company has focused its efforts on effecting the
 sale of the Company to a strategic buyer.  However, there are no assurances
 that the Company will be able to conclude a sale, merger or other strategic
 alternative and, even if it is able to conclude such a transaction, the
 Company believes that at present it is unlikely that the terms of any such
 transaction would return any value to the Company's stockholders.
     Although Bolder has no definitive plans at this time, the Company believes
 that it will seek protection under the United States Bankruptcy Code in the
 near future, regardless of whether it is able to conclude a sale, merger or
 other strategic alternative.
     Bolder Technologies Corporation, headquartered in Golden, Colorado,
 manufactures and markets advanced, high-power spiral wound rechargeable
 batteries based on its patented Thin Metal Film ("TMF(R)") technology.  The
 Company is developing and commercializing consumer and OEM battery products
 with the TMF(R) technology, including the SecureStart(TM) Portable Jump
 Starter (which the Company began shipping to retailers in September 1999),
 that use proven lead-acid electrochemistry in a proprietary configuration with
 a higher power density than any commercially available rechargeable battery.
 The TMF(R) technology offers numerous advantages over existing batteries for
 current and future applications, including near-term opportunities in the
 marine and auto after markets for 12V primary starting batteries. Bolder's
 website is www.boldertech.com .
     Bolder's TMF(R) technology also has possible future applications in the
 pending auto industry conversion from 12V to 36V systems, both directly
 through vendor sales and indirectly through a license agreement with Johnson
 Controls, Inc. ("JCI").
     This announcement contains forward-looking statements that involve risks
 and uncertainties, including statements that are preceded by, followed by or
 include the words "believes," "plans," "intends," "expects," "anticipates,"
 "will," "should" or similar expressions.  For such statements, Bolder claims
 the protection of the safe harbor for forward-looking statements contained in
 the Private Securities Litigation Reform Act of 1995.  Actual results may
 differ materially from the results predicted, and reported results should not
 be considered as an indication of future performance.  Factors that could
 cause actual results to differ from those contained in the forward-looking
 statements include whether and how Bolder's proposed strategic alliance with
 GP Batteries is implemented, difficulties in raising additional capital on
 terms acceptable to the Company, uncertainties regarding Bolder's pursuit of
 available strategic alternatives, (including uncertainties regarding Bolder's
 ability to reduce expenses and extend or restructure its obligations to
 conserve cash while strategic alternatives are being considered) and
 difficulties in achieving market acceptance for the Company's present and
 future products, as well as those factors set forth in Bolder's registration
 statement on Form S-3 filed on August 16, 2000, the Annual Report on Form 10-K
 for the year ended December 31, 1999 and the Quarterly Report on Form 10-Q for
 the quarter ended September 30, 2000, each of which has been filed with the
 SEC.  Bolder undertakes no responsibility to publicly update or revise any of
 the forward-looking statements that may be in this release.
 
     CONTACT:  Paul C. Kelly, Chief Financial Officer of Bolder Technologies
 Corporation, 303-215-7290, or Philip L. Thomas of The P.L. Thomas Group, Inc.,
 312-704-1800
 
 

SOURCE Bolder Technologies Corporation
    GOLDEN, Colo., April 3 /PRNewswire/ -- Bolder Technologies Corporation
 (Nasdaq: BOLD) today announced that it has been notified by The Nasdaq Stock
 Market that its common stock will be delisted from trading on the Nasdaq
 National Market at the opening of business on April 6, 2001.
     Bolder expects that the trading halt announced by the Nasdaq Stock Market
 on March 9, 2001 will remain in place until its common stock is delisted on
 April 6, 2001.  Bolder's common stock will not be listed on the Over the
 Counter Bulletin Board and, therefore, there may be no trading market or
 liquidity available for the stock.
     Bolder is continuing to work with its outside advisors to develop
 strategic alternatives.  The Company has been unsuccessful in attracting
 additional financing and it does not expect to secure any additional
 financing; therefore, the Company has focused its efforts on effecting the
 sale of the Company to a strategic buyer.  However, there are no assurances
 that the Company will be able to conclude a sale, merger or other strategic
 alternative and, even if it is able to conclude such a transaction, the
 Company believes that at present it is unlikely that the terms of any such
 transaction would return any value to the Company's stockholders.
     Although Bolder has no definitive plans at this time, the Company believes
 that it will seek protection under the United States Bankruptcy Code in the
 near future, regardless of whether it is able to conclude a sale, merger or
 other strategic alternative.
     Bolder Technologies Corporation, headquartered in Golden, Colorado,
 manufactures and markets advanced, high-power spiral wound rechargeable
 batteries based on its patented Thin Metal Film ("TMF(R)") technology.  The
 Company is developing and commercializing consumer and OEM battery products
 with the TMF(R) technology, including the SecureStart(TM) Portable Jump
 Starter (which the Company began shipping to retailers in September 1999),
 that use proven lead-acid electrochemistry in a proprietary configuration with
 a higher power density than any commercially available rechargeable battery.
 The TMF(R) technology offers numerous advantages over existing batteries for
 current and future applications, including near-term opportunities in the
 marine and auto after markets for 12V primary starting batteries. Bolder's
 website is www.boldertech.com .
     Bolder's TMF(R) technology also has possible future applications in the
 pending auto industry conversion from 12V to 36V systems, both directly
 through vendor sales and indirectly through a license agreement with Johnson
 Controls, Inc. ("JCI").
     This announcement contains forward-looking statements that involve risks
 and uncertainties, including statements that are preceded by, followed by or
 include the words "believes," "plans," "intends," "expects," "anticipates,"
 "will," "should" or similar expressions.  For such statements, Bolder claims
 the protection of the safe harbor for forward-looking statements contained in
 the Private Securities Litigation Reform Act of 1995.  Actual results may
 differ materially from the results predicted, and reported results should not
 be considered as an indication of future performance.  Factors that could
 cause actual results to differ from those contained in the forward-looking
 statements include whether and how Bolder's proposed strategic alliance with
 GP Batteries is implemented, difficulties in raising additional capital on
 terms acceptable to the Company, uncertainties regarding Bolder's pursuit of
 available strategic alternatives, (including uncertainties regarding Bolder's
 ability to reduce expenses and extend or restructure its obligations to
 conserve cash while strategic alternatives are being considered) and
 difficulties in achieving market acceptance for the Company's present and
 future products, as well as those factors set forth in Bolder's registration
 statement on Form S-3 filed on August 16, 2000, the Annual Report on Form 10-K
 for the year ended December 31, 1999 and the Quarterly Report on Form 10-Q for
 the quarter ended September 30, 2000, each of which has been filed with the
 SEC.  Bolder undertakes no responsibility to publicly update or revise any of
 the forward-looking statements that may be in this release.
 
     CONTACT:  Paul C. Kelly, Chief Financial Officer of Bolder Technologies
 Corporation, 303-215-7290, or Philip L. Thomas of The P.L. Thomas Group, Inc.,
 312-704-1800
 
 SOURCE  Bolder Technologies Corporation