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XPEL Technologies Corp. Vows to Vigorously Defend Patent Suit
Published On 1/7/2016
XPEL Technologies Corp. Vows to Vigorously Defend Patent Infringement Suit San Antonio, TX - January 7, 2016 -- XPEL Technologies Corp. (TSXV: DAP.U) (XPEL), a leading supplier of automotive paint and headlamp protection films, strongly denies any alleged infringement of patents held by 3M Company or 3M Innovative Properties Company. 3M Company and 3M Innovative Properties Company filed a complaint in the United States District Court for the District of Minnesota alleging that the Companys XPF Paint Protection Film has been and is directly infringing United States Patent No. 8,765,263 (the Ã‹Å“263 Patent), entitled Multilayer Polyurethane Protective Films. XPEL denies the claims and intends to vigorously defend itself against any such claims. XPEL also questions the validity of the Ã‹Å“263 Patent. We are a market leader in Paint Protection Film, and it appears our rapid growth has made us a target. We will defend the suit and continue to bring our customers the best support, training and marketing in the industry. We plan to continue business as usual and there should not be any impact to our customers while this matter progresses, said Ryan Pape, Chief Executive Officer. XPELs Paint Protection Film is now protecting thousands of vehicles annually in over 30 countries. XPEL sponsors dozens of activities and events for auto enthusiasts each year. XPEL has set up a contact hotline for customers and installers of XPEL Paint Protection Film with questions about the litigation. Customers may contact (855) 637-1801, (210) 446-5301 or firstname.lastname@example.org. 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. andits 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:
Media Relations Dale Weiss CommCore Consulting Group Phone: (202) 659-4177 Email: email@example.com Investor Relations John Nesbett/Jennifer Belodeau Institutional Marketing Services (IMS) Phone: (203) 972-9200 Email: firstname.lastname@example.org