SMTK SmartKem Inc

COLORADO SPRINGS, Colo., May 10 /PRNewswire-FirstCall/ -- Simtek Corporation (NASDAQ:SMTK) the inventor, pioneer, and world's leading supplier of nonvolatile static random access memory (nvSRAM) integrated circuits, today announced that the Company's President and Chief Executive Officer, Harold Blomquist, will ring The NASDAQ Stock Market closing bell tomorrow, May 11, 2007. He will be joined by Mr. Brian Alleman, Chief Financial Officer and two Company employees who have contributed to the Company's success in significant ways, Ms. Kim Stankey, and Ms. Cindy Wade. The bell-ringing ceremony will be broadcast on national business television at 4:00 pm ET from the NASDAQ's MarketSite broadcast studio in New York City and will be webcast live on NASDAQ's website: http://www.nasdaq.com/reference/marketsite_about.stm Harold Blomquist, Simtek President and CEO, commented, "We are excited to preside over the NASDAQ market close and view this occasion as an opportunity to acknowledge and thank all of those who contributed to our success, including our customers, partners, shareholders, and employees. Our recent re-listing on the NASDAQ Capital Market reflects the strong financial and other results we have delivered over the past year. We are pleased with our progress as a company and look forward to continued excitement and growth," concluded Blomquist. On April 26, 2007, Simtek announced first quarter financial results, which included 66% product revenue growth year-over-year and $0.02 per share ex-item profit. The company guided for 2007 product revenue in excess of $40 million which is growth in excess of 40% versus 2006 and an ex-item profit for 2007 in the range of $0.23 - $0.29 per share. On January 8, 2007 Simtek announced that the NASDAQ Stock Market approved its application for listing of the Company's common stock on the NASDAQ Capital Market under the symbol "SMTK." Simtek began trading on the NASDAQ Capital Market on Wednesday, January 10, 2007. About Simtek Corporation Simtek Corporation designs and markets high-speed, re-programmable, nonvolatile semiconductor memory products, for use in a variety of systems including RAID servers, industrial automation, GPS navigational systems, robotics, medical instrumentation, and networking and telecommunications equipment. Information on Simtek products can be obtained from its web site: http://www.simtek.com/; email: . The Company is headquartered in Colorado Springs, Colorado. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements predicting Simtek's future growth. These forward-looking statements are inherently difficult to predict and involve risks and uncertainties that could cause actual results to differ materially, including, but not limited to, projections of future performance including predictions of future profitability and expectations of the business environment in which Simtek operates. For a detailed discussion of these and other risk factors, please refer to Simtek's filings with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K and subsequent Form 10-Q and Form 8-K filings. DATASOURCE: Simtek Corporation CONTACT: Brian Alleman, CFO of Simtek Corporation, ; IR Contact for Simtek, Todd Kehrli or Marie Dagresto, both of MKR Group, Inc., +1-323-468-2300, Web site: http://www.simtek.com/

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