Use of Proceeds for Funding Slated for Retirement of Old Notes, Product Demonstrations and Key Hires
NEW YORK, May 05, 2021 (GLOBE NEWSWIRE) — Dark Pulse, Inc. (OTC Markets: DPLS) (“DarkPulse” and the “Company”), a technology company focused on the manufacture, sale, installation, and monitoring of laser sensing systems based on its patented BOTDA dark-pulse sensor technology (the “DarkPulse Technology”) which provides a data stream of critical metrics for assessing the health and security of infrastructure, announces that the Company has closed bridge funding in the amount of $850,000.00 to retire old notes aid in the demonstration of the Company’s sensor technologies and the hiring key personnel.
The Company has negotiated and closed a private convertible loan with a fixed conversion price that will allow it to implement its near-term sales focused goals. The loan will also facilitate the Company’s desire to continue its path to revenues while implementing its strategy to up-list to the OTCQB as part of its future plan to trade on larger markets such as the NASDAQ.
“Dark Pulse has successfully closed bridge funding that we believe will ensure its operations for the next several months,” stated DarkPulse Chairman and CEO Dennis O’Leary. “We believe that the fixed conversion price negotiated compared to the current market price indicates the strength of our position and both short and long-term potential in the markets.” He continued, “The funds will be utilized to retire past notes, fund product demonstrations, and pay for key personnel hires as the Company continues expanding its operating capabilities.”
About DarkPulse , Inc.
DarkPulse, Inc. uses advanced laser-based monitoring systems to provide rapid and accurate monitoring of temperatures, strains and stresses. The Company’s technology excels when applied to live, dynamic critical infrastructure and structural monitoring, including pipeline monitoring, perimeter and structural surveillance, aircraft structural components and mining safety. The Company’s fiber-based monitoring systems can assist markets that are not currently served, and its unique technology covers extended areas and any event that is translated into the detection of a change in strain or temperature. In addition to the Company’s ongoing efforts with respect to the marketing and sales of its technology products and services to its customers, the Company also continues to explore potential strategic alliances through joint venture and licensing opportunities to further expand its global market position.
For more information, visit www.DarkPulse.com
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