ACRO CONSUMMATES $1.5 MILLION PRIVATE PLACEMENT
Tel Aviv, Israel – February 27, 2007 – Acro, Inc. (OTC BB:ACRI), a developer of innovative solutions for burgeoning homeland security, today announced that the company completed a private placement with an investor aggregating $1.5 million. In connection with the subscription agreement, our CEO and one of our directors agreed to a lock-up of their shares until May 1, 2008. Details of the transaction have been filed in a Form 8-K with the Securities and Exchange Commission on February 15, 2007.
“This interim funding mechanism came to the Company at a fortuitous time, as Rafael has completed final testing on the ACRO P.E.T. product. We believe that this new financing will help the company entering the market quickly with its ready to market product – the ACRO P.E.T,” stated Gadi Aner,” CEO and Chairman.
About Acro Inc.
Acro Inc. is involved in the development of explosive detection technologies. The company developed a unique patented technology for identifying peroxide based explosives, such as TATP.
Arco's Advisory Board includes General (ret.) Ehud Barak, former IDF Chief of Staff and former Primer Minister of Israel, Prof. K. Barry Sharpless, winner of the 2001 Nobel Prize for Chemistry, and Prof. Richard A. Lerner, President & CEO of The Scripps Research Institute, which is considered one of the most influential scientific institutes worldwide.
For more information about Acro, please visit the website www.acrosec.com
This press release contains forward-looking statements concerning our marketing and operations plans. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. All forward-looking statements in this press release are made based on management’s current expectations and estimates, which involve risks, uncertainties and other factors that could cause results to differ materially from those expressed in forward-looking statements. These statements involve a number of risks and uncertainties including, but not limited to, risks related to the evolving homeland security market, our ability to successfully market and sell our “TATP” Explosive Tester products, and the ability to successfully demonstrate to governmental national security agencies and national police forces solutions, general economic conditions, our ability to raise more funds, and other risk factors. Acro does not undertake any obligation to update forward-looking statements made herein.
Contact:
Cynthia DeMonte
DeMonte Associates
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