Ameritek Ventures (OTCMKTS:ATVK) to Attain New Funding

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Ameritek Ventures (OTCMKTS:ATVK), a newcomer to our mentions here on Street Register,  is a manufacturer of proprietary machinery used in the production of ‘optical fiber preforms’. These preforms are used to produce commercial grade optical fiber. Once produced, this optical fiber is fabricated into fiber optic cable. It is that cable which serves as the backbone of the  telecom industry.The market demand for preforms and optical fiber has experienced rapid growth in the wireless, cable television, internet and high-speed data transmission industries.

The reason we have taken notice of ATVK, aside from its intent to begin operating in a high demand area of the telecommunications space, is the convincing rebound pattern on the chart. Shares of ATVK had taken a bath in the early goings of 2018, but beginning on the 2nd of this month at its established low of .555, the stock has really surged back to life, attaining highs in the upper .90’s this midweek, along with increased liquidity. There is also the fact that company has been making strides toward receiving the proper funds to carry out its strategies.

Ameritek Ventures (OTCMKTS:ATVK) recently executed a binding term sheet on a private debenture financing that is expected to result in net proceeds of $16 million to Ameritek. The agreement includes provisions for the establishment of licensing agreements across multiple global jurisdictions that would provide additional capital from licensing fees to accelerate Ameritek’s commercial strategy.

“This funding represents a key milestone for Ameritek, as it will enable the Company to secure our manufacturing facility in Roanoke, Virginia, assembling of required equipment to produce optical fiber preforms at an initial annual run rate of 5 million kilometers,” commented Kenneth Mayeaux, Ameritek’s VP of Operations. “We are confident this extended operating runway and licensing opportunities will support a broad, global distribution of high-quality preforms produced in the Virginia facility, meeting the continued market demand for these vital components that are currently in short supply.”

In addition to that funding, the company also recently reported that it had secured access to $1,050,000 in additional funding through a private lender, available over a 12-month period, in multiple tranches.

Ameritek is also in advanced negotiations towards securing permanent funding that will enable the execution of its strategic plan, including the assembly of a manufacturing, research and technology center in Roanoke, VA. The Company has completed concept design work and anticipates beginning equipment fabrication and assembly in the third quarter of 2018.  Management anticipates launching the production of optical fiber preforms in early 2019.

“We are pleased to have secured access to this funding, as it represents a key step towards completing a permanent financing transaction that will enable Ameritek to advance its manufacturing and commercial objectives,” stated Clinton Stokes III, Ameritek’s Chief Executive Officer.  “As part of our ongoing negotiations, we see an opportunity to establish licensing agreements across multiple global jurisdictions that would provide capital from licensing fees that would fast-track the build-out and expand the manufacturing capacity in our Virginia facility.  This would enable Ameritek to meet robust market demand for high-quality fiber optic preforms to the global telecommunications industry.”  (Source: Globe Newswire)

AMTK has certainly impressed with its 70%+ rise in PPS in the month of May, and we’ll be interested track how the company utilizes its incoming funding. We’ll be sure to continue looking out for key events. We’ll stay up on any further developments with ATVK and pass them along to you! Stay locked on StreetRegister.com and be sure you’re signed up for our 100% free small cap newsletter. It’s as easy as that! Simply submit your primary active email address in the box below. Subscribe now!

 

Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in ATVK stock, short or long.

 

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