PRESS RELEASE
Published on March 15, 2021
Exhibit 99.1
Know
Labs Announces Close of Financing
$14.2
Million for Product Development, Clinical Testing and Preparation
for Up List to a Major Exchange
Seattle,
WA. – March 15, 2021 - OTCQB: KNWN
Know Labs, Inc., an emerging leader in non-invasive medical
diagnostics, through its proprietary electromagnetic energy
technology platforms, announced today that it has closed on $14.2
million of financing. The financing was largely led by existing
investors and insiders.
The
financing is another step in the Company’s plans to up list
on a major exchange, either NASDAQ or the NYSE, and supports
continuing development and clinical testing on its platform
technology with its first focus on non-invasive blood glucose
monitoring, and future FDA approval. The current financing provides
sufficient capital so that management can ensure product
development stays on track and an up list to a major exchange is
event driven rather than driven by a need for capital.
As
previously stated, the Company believes an up list to a major
exchange will:
●
Provide additional
opportunities to attract institutional and retail investors,
allowing the Company to broaden its investor base in the United
States and internationally;
●
Increase the
visibility of the Company, its growth strategy, accomplishments and
results to date;
●
Enable an
aggressive growth strategy;
●
Increase liquidity
of the Company's common shares; and
●
Raise the Company's
overall profile and ultimately enhance shareholder
value.
Product
development and clinical testing remain focused on:
●
Relationships with
internationally recognized clinical research institutions to
perform laboratory-based validation testing to confirm internal
test results;
●
Continued work on
miniaturization of the Know Labs platform diagnostic technology,
internal testing and refinement of the use of its trade secret
algorithms for exacting determination of the platform’s first
use in determining blood glucose levels;
●
Expanding the
Company’s Intellectual Property portfolio;
●
Preparation for
submitting the Know Labs technology to the FDA for approval of its
non-invasive blood glucose monitoring technology; and
●
Providing support
to its Particle subsidiary as it launches its disinfecting light
bulb into the marketplace.
About Know Labs, Inc.
Know
Labs, Inc. is a public company whose shares trade under the stock
symbol “KNWN.” The Company’s technology uses
spectroscopy to
direct electromagnetic energy through a substance or material to
capture a unique molecular signature. The Company refers to its
technology as Bio-RFID™. The Bio-RFID technology can be
integrated into a variety of wearable, mobile or bench-top form
factors. This patented and patent pending technology makes it
possible to effectively conduct analyses that could only previously
be performed by invasive and/or expensive and time-consuming
lab-based tests. The first application of the Bio-RFID technology
will be in a product marketed as a glucose monitor. Those wishing
to stay up to date on the developments at Know Labs can subscribe
to the Company’s YouTube channel at this link. For more
information, visit the company’s website at www.knowlabs.co.
The Know Labs subsidiary corporation, Particle, Inc., develops and
markets Particle™ light bulbs that provide warm, white light
and disinfectant light to safely kill germs and viruses, providing
biosecurity in the home, school and office ecosystem. You can learn
more about the Particle bulb at www.particlebulb.com.
Safe Harbor Statement
This
release contains statements that constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 and Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended. These statements appear in a number of places in this
release and include all statements that are not statements of
historical fact regarding the intent, belief or current
expectations of Know Labs, Inc., its directors or its officers with
respect to, among other things: (i) financing plans; (ii) trends
affecting its financial condition or results of operations; (iii)
growth strategy and operating strategy; and (iv) performance of
products. You can identify these statements by the use of the words
“may,” “will,” “could,”
“should,” “would,” “plans,”
“expects,” “anticipates,”
“continue,” “estimate,”
“project,” “intend,” “likely,”
“forecast,” “probable,”
“potential,” and similar expressions and variations
thereof are intended to identify forward-looking statements.
Investors are cautioned that any such forward-looking statements
are not guarantees of future performance and involve risks and
uncertainties, many of which are beyond Know Labs, Inc.’s
ability to control, and actual results may differ materially from
those projected in the forward-looking statements as a result of
various factors. These risks and uncertainties also include such
additional risk factors as are discussed in the Company’s
filings with the U.S. Securities and Exchange Commission, including
its Annual Report on Form 10-K for the fiscal year ended September
30, 2020, Forms 10-Q and 8-K, and in other filings we make with the
Securities and Exchange Commission from time to time. These
documents are available on the SEC Filings section of the Investor
Relations section of our website at www.knowlabs.co.
The Company cautions readers not to place undue reliance upon any
such forward-looking statements, which speak only as of the date
made. The Company undertakes no obligation to update any
forward-looking statement to reflect events or circumstances after
the date on which such statement is made.
Know Labs, Inc. Contact:
Jordyn
(Theisen) Hujar
jordyn@knowlabs.co
Ph.
(206) 629-6414