July 30, 2007 — /PRNewswire/ — BLOOMFIELD HILLS, MI — Ecology Coatings, Inc., the global leader in the development of nano-enabled, ultraviolet (UV)-curable, clean technology coatings, today announced that it completed its reverse merger with OCIS Corporation on July 26, 2007.
As previously announced on April 30, 2007, OCIS Corp. and Ecology Coatings entered into a merger agreement, which called for OCIS to acquire Ecology Coatings in a statutory merger with Ecology Coatings becoming a wholly owned subsidiary of OCIS. On July 26, 2007, Ecology Coatings merged with OCIS and became the surviving corporation and a wholly owned subsidiary of OCIS, which then changed its name to Ecology Coatings, Inc.
“The successful completion of this transaction coupled with Ecology Coatings’ common stock listing on the OTC Bulletin Board(R) are both major milestones for us. Our listing on the OTCBB will provide us with access to new investors, new sources of capital with which to grow our company, and greatly enhance our visibility and market awareness of our outstanding line of leading-edge, clean technology coating products,” states Richard D. Stromback, chairman of the board of directors for Ecology Coatings.
Pursuant to the terms of the merger agreement, the board of directors and executive officers of OCIS Corp. resigned and were replaced by the board and officers of Ecology Coatings, who have become the new board and executive officers of the surviving entity.
The company also announced the addition of the following individuals to the executive team:
- David W. Morgan — vice president, chief financial officer, and treasurer. Prior to joining Ecology Coatings, Morgan served as the vice president of finance and corporate development, chief financial officer, and treasurer of TechTeam Global, Inc. a publicly traded, worldwide provider of information technology and business process outsourcing services. He has also served as the CFO of two other public and private technology companies addressing the industrial manufacturing sector. Morgan holds a B.A. degree in economics and political science from the University of Michigan.
- Tim Tanner — vice president of business development. Tanner joined Ecology Coatings with more than 19 years of experience in the development and marketing of UV-curable coatings for Redspot Paint and Varnish and North American Lighting. Tanner was instrumental in developing both domestic and global automotive lighting applications for UV products and in establishing strategic relationships with Japanese and European partners. Tanner holds a B.S. degree in chemistry from Murray State University.
“Dave’s extensive experience as the CFO of multiple high-tech public and private companies and Tim’s long term experience with UV-curable coatings are perfectly suited to meet our organizational needs and growth expectations for Ecology Coatings. They are welcome additions to our executive team,” states F. Thomas Krotine, president and chief executive officer of Ecology Coatings.
About Ecology Coatings, Inc.
Ecology Coatings, Inc. is the global leader in the development of nano-enabled, ultraviolet-curable, clean technology coatings that are designed to drive efficiencies and clean processes in manufacturing. The company creates proprietary coatings with unique performance attributes by leveraging its platform of integrated nano-material technologies. Ecology Coatings collaborates with industry leaders to develop high-value, high-performance coatings for applications in the specialty paper, automotive, general industrial, electronic, and medical sectors of the economy. For information about Ecology Coatings and its product offerings, call (248) 723-2223 or visit www.ecologycoatings.com. Ecology Coatings’ common stock is traded on the OTC Bulletin Board under the symbol “ECOC”. Founded in March 1990 and headquartered in Bloomfield Hills, MI, Ecology Coatings also maintains a product development facility in Akron, OH.
Source: Ecology Coatings, Inc.