LOS ANGELES, Calif., July 17, 2014 (GLOBE NEWSWIRE) -- via PRWEB - Cavitation Technologies, Inc. ("CTi") (CVAT) (Berlin & Stuttgart: WTC) announced that the Company obtained equity funding of $1.4 Million dollars with Security Research Associates (SRA, Member of FINRA/SIPC) as the placing agent. The terms of the deal are at $0.075 per share and for each share purchased, there was a five year, $0.12 cashless warrant issued to the holder of the purchased security. The funding provides CTi with the opportunity to grow its core line of business as well as develop new applications in the production of biodiesel, biomass, ethanol, and multiple water-related processing applications.
Igor Gorodnitsky, CTi President, commented, "It was fundamentally important for our company to raise this capital. Our company is in a stronger financial position with the opportunity to develop new and existing applications as well as fully pursue key new hirings." Adding to Mr. Gorodnitsky comments, N. Voloshin, CTi's CFO/COO, offered "This equity funding represents a significant milestone for our company this year as it not only provides us with financial stability, but also exposure from accredited investors and institutions. We're pleased that we were able to raise equity through private investors and institutions and we believe that working with SRA will be beneficial for future relationships with the investment community."
About CTI
Founded in 2007, the company designs and manufactures state-of-the-art, flow-through, robust devices and systems and develops processing technologies for use in edible oil refining, renewable fuel production, expeditious petroleum upgrading, algal oil extraction, alcoholic beverage enhancement and water treatment. As an add-on to existing neutralization systems, the company's patented Nano-Reactor(R) allow refiners to significantly reduce both processing costs and the environmental impact, while also increasing the yield. More information is available at http://www.ctinanotech.com/
Forward Looking Statement
The foregoing press release may contain forward-looking statements, including statements regarding, among other things, about the expectation of CTI's future business. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties, certain of which are beyond the Company's control. Actual results could differ materially from these forward looking statements as a result of a variety of factors including, among others, the state of the economy, the competitive environment, and the Company's performance. In light of these risks and uncertainties there can be no assurances that the forward looking statements contained in this press release will in fact transpire or prove to be accurate.
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