The Coretec Group to Close Oklahoma Office and Relocate to Ann Arbor, Michigan
Coretec Group is relocating all operations to the Ann Arbor, MI to focus on accelerating the commercialization of CHS
ANN ARBOR, MI / ACCESSWIRE / June 24, 2020 / The Coretec Group, Inc., (OTC PINK:CRTG) (the "Company"), a company developing a portfolio of silicon-based materials utilizing Cyclohexasilane ("CHS") to pursue commercial development of products in energy-focused verticals, today announced that effective June 30, 2020 it is closing its Tulsa, Oklahoma office and shifting all operations to Ann Arbor, Michigan to focus on the commercialization of the Company's cyclohexasilane (CHS) technology.
The relocation to the Ann Arbor office, which opened earlier this year, puts the company in a strategic position to secure funding and key partnerships with companies in the material development and manufacturing spaces. These partnerships will enable the company to further develop CHS for specific applications in the semiconductor, LED, energy storage, solar, and printed electronics sectors.
As of July 1, 2020, all Coretec employees will operate out of the Ann Arbor office. Coretec has determined that it is best to hire staff in Ann Arbor to replace the Tulsa staff, namely CFO Ronald Robinson, and Office Manager/Corporate Secretary Judy Keating who both plan on retiring in the near future. Bringing the team together within the same office as Coretec's CEO Michael Kraft is important for productivity and focus, and as the Company grows, technical and experienced talent is readily accessible in Ann Arbor due to its proximity to several research universities.
"While our Oklahoma office has been Coretec's home for years, we look forward to establishing ourselves in the new headquarters location in Ann Arbor, Michigan, an ideal region for the Company to grow and continue to commercialize its technology," said Michael Kraft, Chief Executive Officer of The Coretec Group. "The city of Tulsa, Ron Robinson, and Judy Keating have been critical to the development of the company, and we thank all for their longtime support. We believe that now is the right time to shift all of our operations to Ann Arbor, where a majority of our team, prospective partners, and customers are located."
To learn more about The Coretec Group, please visit www.thecoretecgroup.com.
About The Coretec Group, Inc.
The Coretec Group, Inc. (the "Company") utilizes a portfolio of silicon-based and volumetric display materials to pursue commercial development of products in energy-focused verticals such as energy storage, solar, and solid-state lighting, as well as printable electronics and 3D volumetric displays. For more information, visit www.thecoretecgroup.com. Follow The Coretec Group on Twitter and Facebook.
The statements in this press release that relate to the company's expectations with regard to the future impact on the company's results from operations are forward-looking statements, and may involve risks and uncertainties, some of which are beyond our control. Such risks and uncertainties are described in greater detail in our filings with the U.S. Securities and Exchange Commission. Since the information in this press release may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. We make no commitment to disclose any subsequent revisions to forward-looking statements. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity.
The Coretec Group, Inc.
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SOURCE: The Coretec Group, Inc.
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Released June 24, 2020