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Advance Display Technologies, Inc. Announces New Financing For Manufacturing of SkyNet(TM).

Publication: Business Wire
Publication Date: 27-FEB-08 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
* Up to $4 Million New Equity Investment

* Manufacturing Operations to Commence in Temecula, California

* Two Sales Executives Hired to Support SkyNet(TM)

DENVER -- Advance Display Technologies, Inc. (OTCBB: ADTI) announced today the company had raised $4.0 million of equity financing in a preferred stock offering to ADTI's majority shareholder, Mr. Lawrence F. DeGeorge. $3.0 million of the preferred equity investment has been invested in the company with the additional $1 million remaining as a preferred equity option, which may be exercised at the Company's discretion. The $4.0 million will finance manufacturing and sales operations for ADTI's SkyNet(TM) as the company transitions from a start-up research and development company to an operational company.

Matthew W. Shankle, ADTI's President and CEO, commented, "ADTI has achieved a milestone in its history. Today we moved from a development company to a manufacturing company. In order to finance this transition, it was essential that...

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