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|---|---|
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This press release is an English version of the previously published Swedish version, which has interpretive precedence.
Smoltek Nanotech Holding AB ("Smoltek") announces that the company and DC Advisory have entered into a termination agreement of their corporate finance engagement. Smoltek assesses that the need for the advisor's services has decreased, and that it is in the best interest of the company to carry on its work with collaboration partners and investors on its own.
The collaboration with DC Advisory, which has been active since 2019, has resulted in increased awareness of Smoltek and the company's nanotechnology platform among potential collaboration partners and investors that the company would otherwise not have had the opportunity to come into contact with.
However, Smoltek's strategy for scaling up its business areas and obtaining revenue, as well as the prevailing market climate for growth companies, has changed significantly since 2019. In light of this, the company's board and management deem it to be more financially and strategically advantageous for Smoltek to conduct all activities related to potential agreements with collaboration partners and/or investors on its own going forward.
"I want to thank DC Advisory for a professional and beneficial collaboration over the years. Their network and insights have been useful for us in our contacts with potential customers and other entities within our two business areas," says Håkan Persson, Smoltek's group CEO.