BlackBox executes binding LoI to purchase next gen semiconductor subsidiary from Shrink Nanotechnologies

SCHENECTADY, USA: BlackBox Semiconductor Inc., formerly Visitrade Inc., a semiconductor technology development and application company, announced that it has executed a binding letter of intent to purchase the BlackBox Semiconductor subsidiary of Shrink Nanotechnologies Inc. in order to commercialize its "electronic glue" semiconductor chemistry.

Purchase terms of the binding LoI in include:
* $75,000 in cash at closing and approximately 19.9% of BlackBox VTDI shares to Shrink in exchange for
* Shrink's BlackBox subsidiary, including its worldwide exclusive license for the semiconductor electronic glue technology and pending patents from the University of Chicago, and Shrink common stock with a current market value of approximately $1.2 million.

"Access to this exciting technology, intellectual property assets, and investment from Shrink provides a great step forward to the company and a healthy start for our capital structure as we continue to raise funds for the acceleration of our commercialization efforts," stated David Duncan, BlackBox CEO. "Following the closing of the BlackBox Semiconductor Transaction, we will focus 100 percent of our efforts towards the business."

Semiconductor electronic glue chemistry incorporates engineered inorganic semiconductor and metal nanostructures with proprietary and patent pending electronic glues that are maintained and deposited in liquid form.

BlackBox semiconductor liquids can be deposited using low-cost printing and other high throughput techniques to create high-performing, solid semiconductor films and structures.

BlackBox technology solves the problem of previously attempted solution-processed inorganic semiconductor methods that were limited by poor electronic performance. Its electronic glue chemistry allows efficient transfer of electric charges between the semiconductor nanomaterials and results in high transport and mobility of charge carriers through the manufactured semiconductor solid.

BlackBox semiconductors can be manufactured using rigid and flexible substrates while retaining any desired nanostructures. Semiconductor nanostructures exhibit unique optical and electronic properties that have the potential to create revolutionary semiconductor materials for a range of large market applications including photovoltaics, energy storage, optical sensing, and other printed electronics.

"The possibilities enabled by this powerful chemistry platform are considerable," explained BlackBox CEO David Duncan. "The ability to use low-cost techniques to manufacture high-performing semiconductor films for current and next generation applications using our electronic glue liquid semiconductor process would represent a significant advancement in semiconductor technology."