New Issue: Micro Identification arranges $5 million equity financing with Dutchess

By Devika Patel

Knoxville, Tenn., May 10 - Micro Identification Technologies, Inc. said it arranged a $5 million line of credit with Dutchess Opportunity Fund, LP.

Dutchess has committed to purchase up to $5 million of the company's common shares over three years.

Based in San Clemente, Calif., Micro Identification is developing a breakthrough, laser-based, rapid microbial identification technology.

Issuer:	Micro Identification Technologies, Inc.
Issue:	Equity line of credit
Amount:	$5 million
Tenor:	Three years
Warrants:	No
Investor:	Dutchess Opportunity Fund, LP
Pricing date:	May 10
Stock symbol:	OTCBB: MMTC
Stock price:	$0.04 at close May 10
Market capitalization:	$5.32 million

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