News Column

Tornado Co. Ltd. - Product Financing

June 19, 2014



TORNADO CO., LTD. PRODUCT FINANCING The Company is pleased to announce that agreement has been reached with an independent angel investor in South Korea for product financing. The investor has committed approximately US$1,000,000 [590,000] to produce Tornado's products including additional trial products. Tornado has given the investor the right of supplying limited product to Hansaem Corporation of South Korea at certain prices with Hansaem paying a royalty to Tornado estimated to be at the rate of US$1,000,000 per annum. This arrangement, as an alternate to a share issue, has been structured to be attractive to both the investor and the Company and is beneficial to the Company in its production whilst not diluting existing shareholders by further share issues. However Tornado continues to discuss the terms and extent of new equity investment with potential investors in South Korea. The Directors of the Company are satisfied that these financing arrangements will enable the Company to produce product for its general customer base. The Directors of the Company take responsibility for the Content of this announcement. 18 June 2014 For more information: Tornado: Jang Youl Lee +82 10 8363 6279 Email: leejy4636@hanmail.net Website: www.tornadofan.co.kr Corporate Adviser - Axiom Capital Ltd - David Sinclair Phone + 44 203 114 2128 david.sinclair@axiomcapital.co.uk BACKGROUND ON COMPANY The company is incorporated in and operates from Incheon close to Seoul in South Korea. Its product development started in 2010. It will manufacture on a sub contract basis domestic and commercial fans and cooker hoods which are: * patented * provide improved ventilation * quieter * economic on power consumption The patented technology creates a vacuum which pulls the contaminated air from the environment in a more efficient manner than a traditional fan. Buying commitments have been received from Samsung and a group of 2000 industrial operators.




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Source: PR Newswire (UK Disclosure)


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