KULR Retires All Outstanding Yorkville Debt
28 March 2024 - 1:45AM
KULR Technology Group, Inc. (NYSE American: KULR)
(the "Company" or "KULR"), a global leader in sustainable energy
management, today announced that all outstanding debt owed to
Yorkville Advisors ("Yorkville") has been retired in accordance
with their terms.
"Retiring the outstanding Yorkville debt is a significant step
for the Company," said KULR's CEO, Michael Mo. "The net proceeds
from the financing helped fund our migration from a thermal
management solutions provider to our current KULR ONE Design
Solutions ("K1-DS") platform. I view it as a very positive step
that we can once again say that we carry no debt on our balance
sheet, other than normal course payables and financing
arrangements."
Mo continued, "We remain excited about our outlook as we drive
to deliver new, innovative technologies and creative marketing
initiatives to further expand the reach of our K1-DS platform,
while adding new customers in 2024 and beyond."
About KULR Technology Group Inc.KULR Technology
Group Inc. (NYSE American: KULR) is a leading energy management
platform company offering proven solutions that play a critical
role in accelerating the electrification of the circular economy.
Leveraging a foundation in developing, manufacturing, and licensing
next-generation carbon fiber thermal management technologies for
batteries and electronic systems, KULR has evolved its holistic
suite of products and services to enable its customers across
disciplines to operate with efficiency and sustainability in mind.
For more information, please visit www.kulrtechnology.com.
Safe Harbor StatementThis press release does
not constitute an offer to sell or a solicitation of offers to buy
any securities of any entity. This release contains certain
forward-looking statements based on our current expectations,
forecasts and assumptions that involve risks and uncertainties.
Forward-looking statements in this release are based on information
available to us as of the date hereof. Our actual results may
differ materially from those stated or implied in such
forward-looking statements, due to risks and uncertainties
associated with our business, which include the risk factors
disclosed in our Form 10-K filed with the Securities and Exchange
Commission on March 28, 2023, as may be amended or supplemented by
other reports we file with the Securities and Exchange Commission
from time to time. Forward-looking statements include statements
regarding our expectations, beliefs, intentions, or strategies
regarding the future and can be identified by forward-looking words
such as “anticipate,” “believe,” “could,” “estimate,” “expect,”
“intend,” “may,” “should,” and “would” or similar words. All
forecasts are provided by management in this release are based on
information available at this time and management expects that
internal projections and expectations may change over time. In
addition, the forecasts are entirely on management’s best estimate
of our future financial performance given our current contracts,
current backlog of opportunities and conversations with new and
existing customers about our products and services. We assume no
obligation to update the information included in this press
release, whether as a result of new information, future events or
otherwise.
Investor Relations:KULR Technology Group,
Inc.Phone: 858-866-8478 x 847Email: ir@kulrtechnology.com
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