Lighting solution orders from Turner Construction cancelled due to fraudulent activities
(GOTHENBURG, Sweden / TORONTO, Canada / CHICAGO, USA, TOKYO, Japan, 17 June, 2020)– Heliospectra AB (publ) (North American ADR OTCQB: HLSPY, and Nasdaq First North Growth Market: HELIO), a world leader in intelligent lighting technology for greenhouse and controlled plant growth environments, announces that two orders from Turner Construction, which has previously been disclosed, have now been cancelled due to fraudulent activities.
Heliospectra announced the first order from Turner Construction on the 23rd of April, with an order value USD $228 000, and the second order on the 11th of May, with an order value of USD $270 000. While processing the orders it was discovered that the orders were not legitimate, and a full investigation, together with the US Authorities, was formed to recover the lights.
All lights from the two orders were successfully recovered, apart from 12 pieces, resulting in very little damage for the company. The persons found responsible for the fraud have no connection to either Turner Construction or Heliospectra, and are in police custody.
Ali Ahmadian, CEO of Heliospectra | +46 (0)72 203 6344 | firstname.lastname@example.org
Heliospectra AB (publ) (OTCQB: HLSPY, and Nasdaq First North Growth Market: HELIO) was founded in 2006 in Sweden by plant scientists and biologists with one vision – to make crop production more intelligent and resource-efficient. Today, with customers across six continents, Heliospectra is the global leader in innovative horticulture lighting technology, custom light control systems and specialized services for greenhouse and controlled plant growth environments. Designed by growers for growers, Heliospectra builds customized LED lighting strategies and controls to automate production schedules, forecast yields and monitor crop health and performance with real-time data and response, to deliver the light plants love and the consistent results growers need. For more information, please visit https://www.heliospectra.com. Company HELIO is listed at Nasdaq First North Growth Market with Redeye AB as Certified Adviser:
Certifiedadviser@redeye.se, +46 (0)8 121 576 90.
The statements in this press release constitute forward-looking statements within the meaning of federal securities laws. Such statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, such forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Potential risks and uncertainties include, but are not limited to, technical advances in the industry as well as political and economic conditions present within the industry. We do not take any obligation to update any forward-looking statement to reflect events or developments after a forward-looking statement was made.
This information is information that Heliospectra AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 17:37 CEST on June 17th 2020.