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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
Contact: Fred Pilon, Investor Relations
StockerYale, Inc.
603-893-8778
[email protected]
STOCKERYALE COMPLETES EQUITY PRIVATE PLACEMENT
SALEM, N.H., October 5, 2000--StockerYale, Inc. (Nasdaq: STKR), a leading
provider of optical communication components and specialized illumination
products, today announced the completion of a private placement of 409,132
common shares at a price of $30.00 per share totaling net proceeds of
approximately US $11.9 million. The shares were placed primarily with
institutional investors and are restricted until registered with the Securities
and Exchange Commission.
"Surging demand for specialty optical fiber has resulted in delayed deliveries
throughout the industry. These proceeds will be specifically targeted at our new
optical preform facility to be built at our Salem location, as well as our
on-going research and development efforts in optical components," said Mark W.
Blodgett, StockerYale's chairman and chief executive officer. "When completed,
our preform facility will allow us to produce customer-requested optical fiber
in addition to other specialty fiber such as our photo-sensitive and
erbium-doped fibers," added Blodgett.
ABOUT STOCKERYALE
StockerYale, Inc., headquartered in Salem, NH, designs and manufactures optical
communication components used in the building of optical networks as well as
structured light lasers, specialized fiber optic, fluorescent, and LED
illumination products for the machine vision and industrial inspection
industries.
StockerYale serves a widely varied, international customer base from its
corporate offices in Salem and reinvests a significant percentage of its
revenues in R&D to meet the future requirements of its customers. StockerYale
has subsidiaries in Roseville, Michigan; Montreal, Canada; Cork, Ireland; and
Singapore.
For more information about StockerYale, Inc. and their innovative products,
contact StockerYale, Inc., 32 Hampshire Rd., Salem, NH 03079; Call 800-843-8011;
Fax 603-893-5604; or e-mail [email protected]. Information is also available
on the company's web site at www.stockeryale.com.
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NOTICE TO INVESTORS:
This press release contains forward-looking statements that do not give full
weight to all the potential risks, but relate to StockerYale's plans,
objectives, and expectations, which are dependent upon a number of factors
outside of StockerYale's control including, but not limited to: market
acceptance of StockerYale's products, the availability of competing products,
and the trading price of StockerYale's common stock. Thus, actual results may
differ materially.
