,%20developers%20of%20silicon%20anode%20active%20materials%20for%20lithium-ion%20batteries%20and%20cyclohexasilane%20(CHS)%20for%20electric%20vehicles%20(EVs),%20cleantech,%20and%20emerging%20tech%20applications,%20today%20announced%20that%20The%20Coretec%20Group%20and%20Core%20Optics,%20LLC%20have%20entered%20into%20an%20amendment%20to%20share%20exchange%20agreement%20which%20extends%20the%20closing%20date%20to%20no%20later%20than%20August%2015,%202024.%20The%20delay%20is%20a%20result%20of%20continued%20efforts%20to%20meet%20final%20closing%20conditions,%20primarily%20the%20need%20for%20Core%20Optics'%20accounting%20which%20uses%20Korean%20International%20Financial%20Reporting%20Standards%20"K-IFRS,"%20to%20be%20converted%20to%20US%20GAAP.){kind=link}
The Coretec Group (OTCQB: CRTG), developers of silicon anode active materials for lithium-ion batteries and cyclohexasilane (CHS) for electric vehicles (EVs), cleantech, and emerging tech applications, today announced that The Coretec Group and Core Optics, LLC have entered into an amendment to share exchange agreement which extends the closing date to no later than August 15, 2024. The delay is a result of continued efforts to meet final closing conditions, primarily the need for Core Optics’ accounting which uses Korean International Financial Reporting Standards “K-IFRS,” to be converted to US GAAP.
Both The Coretec Group and Core Optics leadership remain confident that the deal will close as expected and look forward to the next phase of the Company’s evolution with an emphasis on increasing revenue generation, ultimately building shareholder value.
About The Coretec Group
The Coretec Group, Inc. is an Ann Arbor, Michigan-based developer of engineered silicon and is using its expertise to develop silicon anodes for lithium-ion batteries that will charge faster and last longer. This program is called Endurion. Silicon has the theoretical ability to hold up to 10x the amount of lithium-ions as compared to traditional graphite. Through its proprietary micron and nanoparticle approach, Endurion is loading silicon into the battery anode. A modest increase in silicon will be a game changer that will revolutionize the EV market as well as other energy storage applications.
Additionally, the Company is using its engineered silicon to develop a portfolio of other energy-focused products, including solid-state lighting (LEDs), semiconductors, and printable electronics. Coretec continues to develop CSpace, its 3D volumetric display technology with a wide array of applications including medical imaging, automotive, and others.
For more information, please visit thecoretecgroup.com.
About Core Optics
Core Optics LLC, a Virginia limited liability company, runs its operations through its Korean subsidiary, Core Optics Co., Ltd. Core Optics Co., Ltd. was established in 2023 after acquiring a compact camera module testing equipment product line. It is renowned for its involvement in a high-value enterprise centered around the production and distribution of inspection equipment tailored for compact camera modules (CCM) used in smartphones and automobiles.
For more information, please visit www.coreoptics.us.