EASTLAKE, OH -- (Marketwired) -- 08/17/17 -- US Lighting Group, Inc. (OTC PINK: USLG) ("US Lighting Group" or the "Company"), announces the acquisition of the Intellitronix Corp. (www.Intellitronix.com) as a new wholly-owned subsidiary. As we welcome the Intellitronix Corp. into the US Lighting Group company, we believe that their expertise in LED digital instruments, automotive and custom electronics will greatly contribute toward expanding our product offerings.
As part of US Lighting Group's continuing expansion, the new acquisition of Intellitronix Corp. will improve our ability to handle the growing demands of our customer base while pursuing new and exciting lines of products. The acquisition included, but not limited to, a complete robotic automated SMT assembly line, international customer base, patents pending, extensive intellectual property and goodwill. The company agreed to pay $4,000,000 in exchange for all the shares of Intellitronix Corp. The affiliate is consolidated with the Company due to common control.
United by a common business culture, a new alliance between US Lighting Group and Intellitronix Corp. has been signed. The acquisition now makes US Lighting Group a forerunner in the LED Innovation market, enhancing the company's future growth and performance. Intellitronix Corp. brings in product development expertise, excellent products and an established international consumer base.
By combining resources, US Lighting Group and Intellitronix Corp. will now be leading the industry into more innovative LED technologies, strengths, and assets that you will not find in other technology giants in the global market. The acquisition agreement was closed Thursday December 1, 2016, having been approved by core members of the Board of Directors and top stockholders.
To view US Lighting Group's full profile at OTC Market Group, visit: http://www.otcmarkets.com/stock/USLG/quote.
About US Lighting Group, Inc.
US Lighting Group, Inc. (OTC PINK: USLG), founded in 2011, is an Ohio-based independent designer and manufacturer of high quality patent-pending transformerless "green" LED lighting tubes for sale and distribution into the commercial and industrial 4' tube lighting sectors in the United States and abroad. US Lighting Group's flagship line of LED bulbs is the BH4 Series which are distributed throughout the United States to various commercial and industrial end-users and resellers, and also available at several online retailers, including The Home Depot. Every US Lighting Group LED bulb is 'Made in the USA' at the Company's own manufacturing facility located near Cleveland, Ohio.
For additional information regarding US Lighting Group, Inc., visit www.uslightinggroup.com.
Forward Looking Statements
Statements included in this press release, other than statements of historical fact, are "forward-looking statements" made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are typically, but not always, identified by the words: believe, expect, anticipate, intend, estimate, and similar expressions or which by their nature refer to future events. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from those indicated by these statements.