CelLynx Gets $2 Mn, plans to merge with NorPac
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California: CelLynx, a developer of devices to amplify cellphone signals, has announced that it has signed an agreement for $2 million in equity financing with a group of unnamed investors. The company has also announced that it has entered into a definitive agreement to be acquired by NorPac Technologies, a U.S. based company engaged in developing and marketing technology for self-chilling beverage containers and has nominal operations and assets. NorPac is scheduled to acquire CelLynx in March 2008, and immediately upon closing, current CelLynx shareholders and management will assume majority and operating control of the combined company. John P. Thornton is the CEO and Chief Financial Officer, of NorPac Technologies. The acquisition is subject to completion of due diligence of all parties and certain conditions including completion of the $2 million financing. The company intends to use the proceeds from the financing to advance its proprietary, patent-pending 5BARz(TM) technology from its current prototype stage to commercialization, which it targets reaching by year-end 2008. CelLynx has closed on $200,000 of these financings and has agreements for the balance of $1.8 million to be funded in stages through March 2008.

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