Vancouver, Canada – June 8, 2015 – Elissa Resources Ltd. (TSXV: ELI; Frankfurt: E3O)(“Elissa”) and Spectrum Optix Inc. of Calgary, Canada (“Spectrum” or collectively, with Elissa, the “Companies”) are pleased to report that after reviewing the preliminary imaging analysis from the initial optical simulations as announced on May 20, 2015, Spectrum will now be pursuing the targeted development of its first lens system for imaging.
Spectrum’s core technology contains unconventional optical elements. Utilizing its core technology, the company intends to disrupt conventional lens and image capture based systems, which may include cameras, mobile devices, and telescopes, by creating a compact lens system that reduces the depth currently required in traditional curved lens stacks. Spectrum’s next phase of optical modelling and engineering will be focused on enhancing image resolution performance for its first lens system.
Intellectual Property Protection Strategy
On May 20, 2015, it was announced that Elissa had retained Smart & Biggar, a leading Canadian intellectual property law firm practicing exclusively in intellectual property and technology law, to provide advice on seeking patent protection for Spectrum’s lens technologies. The companies are encouraged by the feedback received from Smart & Biggar and Spectrum anticipates that it will be filing multiple provisional patent applications in the coming weeks.
Representation Agreement with Christie Parker Hale LLP
After consultations on Spectrum’s patenting strategy, the company has signed a Representation Agreement with Christie Parker Hale LLP (“CPH”) of Glendale, California to assist with the preparation and filing of its first provisional patent applications relating to the company’s core lens technology and foundational optical design features.
With clients including Fortune 500 companies, mid-size businesses, start-ups and non-profit organizations, CPH helps clients with every phase of IP procurement, enforcement and defense. Spectrum selected Christie Parker Hale to help guide the company in its development of a comprehensive and high quality intellectual property portfolio due to its international reputation in intellectual property law and depth of science and technology understanding. CPH’s patent attorneys have a national reputation for high caliber performance at the U.S. Patent Office and other venues.
John Daugela, President and CEO of Spectrum Optix, stated:
“I’m very pleased with the progress Spectrum has made over the last month from a technical perspective.”
He continued, “Christie Parker Hale is a leading intellectual property law firm with a focus on tech. Under their guidance, I’m looking forward to filing Spectrum’s first provisional patent applications in the coming weeks.”
About Spectrum Optix
Spectrum Optix has assembled a team of industry experts for the pursuit of advancing its technologies relating to imaging and light concentration applications. Utilizing its core technology, Spectrum aims to disrupt conventional lens and image capture-based systems, which may include cameras, mobile devices and telescopes, by creating a compact lens system that reduces the depth currently required by traditional curved lens stacks.
As announced on November 18 and December 3, 2014, pursuant to a binding letter of intent, Elissa has the option to acquire 100% of Spectrum Optix. The Company also holds a 100% interest in the Thor Rare Earth Project, Nevada.
On behalf of the Board of Directors of Elissa Resources Ltd.
President & CEO
Forward Looking Statements
This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws, including, but not limited to, statements with respect to expectations concerning the development of its technology, the development of the prototype, the potential applications of Spectrum’s technologies and the technology’s potential market impacts. The reader is cautioned that forward looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other factors which are difficult to predict and that may cause actual results or events to differ materially from those anticipated in such forward looking statements. Forward looking statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Companies operate and are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including, among others: risks commonly associated with the development of new technologies, including that the prototype development is at an early stage and additional work will be required to confirm potential applications and feasibility of Spectrum’s technologies; the Companies may not be able complete the prototype as currently expected; the potential applications are based on limited studies and may not be representative of the broader market; the risk that the prototype may not achieve results expected by the Companies; the Companies may not be able to commercialize their technology even if the prototype is successful; NexOptic may not have access to necessary financing on acceptable terms or at all, including, in order to exercise the options under NexOptic’s formal agreement with Spectrum and its shareholders or the conditions to NexOptic’s options to acquire Spectrum shares may not be otherwise satisfied; and other risks inherent with the patent process, transactions of this type and the business of Spectrum and/or NexOptic. Such forward looking statements should therefore be construed in light of such factors. Other than in accordance with its legal or regulatory obligations, NexOptic is not under any obligation and it expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.