YAKUM, Isael, January 5 /PRNewswire-FirstCall/ -- Metalink Ltd. (NASDAQ:
MTLK), a global provider and developer of high-performance wireless and
wireline broadband communication silicon solutions, today announced that it
has drawn down $2.25 million under its previously announced short term
secured loan agreement with an institutional investor.
Concurrently with the draw down of the $2.25 million, Metalink and the
lender entered into an amendment to the loan agreement, whereby Metalink
shall receive the loan of $4.5 million contemplated in the original loan
agreement to be provided in one tranche, in two tranches of $2.25 million
each - the first partial tranche which was provided immediately, and a second
tranche which shall be provided at the request of Metalink, within 60 days
following the completion of certain terms and conditions which must occur on
or before June 30, 2009.
Additional details regarding the amendment to the loan agreement,
including a copy of the amendment, are included in the Company's Report on
Form 6-K that is being filed today with the Securities and Exchange
Commission (SEC).
Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group,
Inc. (Nasdaq: RODM) acted as the exclusive placement agent for the loan.
About Metalink
Metalink Ltd. (NASDAQ: MTLK) is a provider of high performance broadband
communication silicon solutions. Metalink's WLAN and DSL technologies are
designed to enable true broadband connectivity in every home, and its
products revolutionize the broadband experience by facilitating the
convergence of telecommunication, networking and entertainment.
Metalink's WLANPlus(TM) is a high-throughput, 802.11n-draft-compliant
wireless LAN technology optimized for the networked home entertainment
environment. Featuring advanced MIMO technology and full support of QoS, and
operating in both 2.4GHz and 5GHz bands, WLANPlus enables multi-room
networking of multiple high-definition video streams. In addition, Metalink
offers a broad range of symmetric DSL and VDSL products used by operators as
a cost-effective network upgrade to support triple-play services.
Safe Harbor Statement
This press release contains "forward looking statements" within the
meaning of the United States securities laws. Words such as "aim," "expect,"
"estimate," "project," "forecast," "anticipate," "intend," "plan," "may,"
"will," "could," "should," "believe," "predicts," "potential," "continue,"
and similar expressions are intended to identify such forward-looking
statements. Because such statements deal with future events, they are subject
to various risks and uncertainties that could cause actual results to differ
materially from those in the forward looking statements. Factors that could
cause or contribute to such differences include, but are not limited to: our
need to raise additional funds in order for us to implement our current
business plan, including our liquidity requirements, which funds may not be
available to us; our inability to regain compliance with Nasdaq's listing
requirements; any unforeseen developmental or technological difficulties with
regard to our products; changes in the competitive landscape, including new
competitors or the impact of competitive pricing and products; and the impact
on revenues of economic and political uncertainties and weaknesses in various
regions of the world, including the commencement or escalation of hostilities
or acts of terrorism. Additional factors that could cause actual results to
differ materially from these forward-looking statements are set forth from
time to time in Metalink's filings with the Securities and Exchange
Commission, including Metalink's Annual Report in Form F-20. Readers are
cautioned not to place undue reliance on forward-looking statements. Except
as required by applicable law, the Company undertakes no obligation to
republish or revise forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrences of
unanticipated events. The Company cannot guarantee future results, events,
and levels of activity, performance, or achievements.
Further information is available at http://www.MTLK.com
SOURCE Metalink Ltd