Burnaby, British Columbia - October 24, 2007 - Photon Control Inc. (the “Companyâ€) (TSX-V: PHO) announces that it is arranging a non-brokered private placement (“Private Placementâ€) pursuant to which the Company will sell up to 10,000,000 common shares (“Common Sharesâ€) of the Company at a price of $0.075 per share (the closing price of the Company’s common shares on the TSX Venture Exchange on October 23, 2007) for gross proceeds of up to $750,000.
The proceeds are intended for accelerated commercialization of selected innovative optic product lines. The Private Placement is subject to acceptance by the TSX Venture Exchange.
About Photon Control Inc. www.photon-control.com
Photon Control Inc. develops and manufactures optoelectronic products for measurement and control. All Photon’s products have competitive advantages in both performance and cost. Markets for Photon’s products include semiconductor capital equipment, oil and gas, power industry, life sciences and research.
Company Contact: Lauren Nickel, Investor Relations
604.422.8861 x 108
lnickel@photon-control.com