Micro Identification Technologies, Inc. (MMTC.OB) Announces Plans for Expansion Enabled by Completed Manufacturing and Financing Agreements
This morning, Micro Identification Technologies, Inc. announced that it has begun an internal expansion program, which was made possible in part by the Manufacturing Contract signed with OSI Optoelectronics (OSIO) to produce its systems and the Equity Placement Agreement from the private equity firm Dutchess Capital through its Dutchess Opportunity Fund, LP. Micro Identification Technologies (MIT) Chairman Michael Brennan commented, "As part of this expansion program, we will be significantly increasing our professional and scientific resources -- great career opportunities." Over the last year MIT produced the PC-based MIT 1000 Microbial Identification System in limited quantities and had several distinguished…