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XPEL Technologies Corp. Responds to Alleged Patent Infringement Claim
Published On 12/30/2015
XPEL Technologies Corp. Responds to Alleged Patent Infringement Claim San Antonio, TX - December 30, 2015 -- XPEL Technologies Corp. (TSXV: DAP.U), (XPEL) (the Company) a leading supplier of automotive paint and headlamp protection films, announced today that it became aware that 3M Company and 3M Innovative Properties Company (3M IPC) filed a complaint in the United States District Court for the District of Minnesota alleging that the Company has been and is infringing United States Patent No. 8,765,263, entitled Multilayer Polyurethane Protective Films. The Company was not given any prior notice of the allegations making the basis of the complaint and is currently evaluating the merit, if any, of such complaint. The Company currently intends to vigorously defend itself against such patent infringement claims. About XPEL Technologies Corp.
XPEL is the leading supplier of automotive paint and headlamp protection films with over 70,000vehicle-specific applications and a worldwide network of trained installers. XPEL is thedeveloper of the Design Access Program software, and manufacturer of XPELTM AutomotivePaint and Headlamp Protection Products. XPEL has forged the cutting-edge of automotiveprotection technology, and leads the industry in quality, technical support and customer service.Additional information can be found on the Company's website at www.xpel.com
Safe harbor statement
This release includes forward-looking statements regarding XPEL Technologies Corp. and its business, which may include, but is not limited to, anticipated use of proceeds fromcapital transactions, expansion into new markets, and execution of the company's growthstrategy. Often, but not always, forward-looking statements can be identified by the use ofwords such as "plans," "is expected," "expects," "scheduled," "intends," "contemplates,""anticipates," "believes," "proposes" or variations (including negative variations) of suchwords and phrases, or state that certain actions, events or results "may," "could," "would,""might" or "will" be taken, occur or be achieved. Such statements are based on the currentexpectations of the management of XPEL. The forward-looking events and circumstancesdiscussed in this release may not occur by certain specified dates or at all and could differmaterially as a result of known and unknown risk factors and uncertainties affecting thecompany, performance and acceptance of the company's products, economic factors,competition, the equity markets generally and many other factors beyond the control ofXPEL. Although XPEL has attempted to identify important factors that could cause actualactions, events or results to differ materially from those described in forward-lookingstatements, there may be other factors that cause actions, events or results to differ fromthose anticipated, estimated or intended. No forward-looking statement can be guaranteed.Except as required by applicable securities laws, forward-looking statements speak only asof the date on which they are made and XPEL undertakes no obligation to publicly updateor revise any forward-looking statement, whether as a result of new information, futureevents, or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information contact: Ryan Pape Chief Executive Officer Phone: (210) 678-3700
John Nesbett/Jennifer Belodeau Institutional Marketing Services (IMS) Phone: (203) 972-9200 Email: firstname.lastname@example.org