TORONTO, April 16, 2014 (GLOBE NEWSWIRE) -- Epcylon Technologies, Inc. (OTCBB:PRFC) ("Epcylon" or the "Company") is pleased to announce that it has closed the private placement offering of $2,000,000, in accordance with the issuance of shares of its Series A preferred stock. The received proceeds of this private placement will be utilized for specific and designated corporate purposes and projects as outlined in this release. They will also be held in a restricted account and subject to an account management agreement between the parties.
It is the Company's intent to utilize the funds for the following purposes with details highlighting and explaining each step in depth:
Asset Enhancement: The placement of these funds enables Epcylon Technologies, Inc. to apply for, and upon successful approval, qualify and graduate to the OTC.QX Exchange.
Canadian Securities Exchange (CSE) Listing: Currently, Epcylon has initiated its application for listing on the CSE headquartered in Toronto, Ontario, Canada.
Trading Capital. Utilizing its proprietary Stealth Trading Platform (STP) the funds will be placed in a restricted account whose sole purpose will be the successful trading of these funds demonstrating the results of our STP.
Mr. Peter George (CEO and Director): "I am quite pleased to announce that we are continuing our commitment to improve the balance sheet of Epcylon. Receiving this $2,000,000 capital investment, we now have the ability to petition and graduate to the OTC.QX Exchange. The level of transparency, disclosure, and capital required to reach this next level demonstrates to our shareholders our commitment to seeing Epcylon succeed. As part of our long term economic plan, we must ensure that our financial vitality is precisely planned and executed. It must meet the highest standard. This investment will help make this goal a reality. Our next target will be the graduation to the NASDAQ Small Cap by meeting their requirements for listing. As an executive team, we are working extremely hard to realize this objective."
Mr. Todd Halpern (Chairman of the Board): "Being co-listed on the CSE broadens our shareholder base and truly makes us a global company with deep ties and roots cemented in North America. Epcylon has targeted specific markets for our suite of products and services. Being listed in Canada and the United States will help attract institutions, clients, market makers, analysts and shareholders to our powerful story and business units. This joint listing improves our corporate recognition and boosts the businesses and communities we serve."
Mr. Doug McKay (Director & Director of Trading): "Having the ability to publicly demonstrate the effectiveness & success of our STP is awesome! As a company we are demonstrating to our shareholders, prospective shareholders, customers, and future clients that we know we have game changing software technology. We certainly plan on monetizing this valuable proprietary asset. After three months, our quarterly results will be filed and our results will speak for themselves."
About Epcylon Technologies, Inc.
Epcylon (OTCBB:PRFC) is an innovator in four fields: intuitive trading software; applications that assist fundraising for charities & sports trading; energy efficient lighting technologies; and sustainable building materials. Please visit us at http://www.epcylon.com
You should not place undue reliance on forward-looking statements in this press release. This press release contains forward-looking statements that involve risks and uncertainties. Words such as "will," "anticipates," "believes," "plans," "goal," "expects," "future," "intends," and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks we face as described in this press release. For further information about Epcylon Technologies Inc., please refer to its website at http://www.epcylon.com
CONTACT: Media Relations Epcylon Technologies, Inc. 131 Bloor St. W., Suite 200/372 Toronto, Ontario Canada MS5 1R8 Phone +1-416-479-0880Source:Epcylon Technologies, Inc.