Spectra Systems Corporation

Allowance of Banknote Disinfection Patent by the United States Patent and Trademark Office

Spectra Systems Corporation, a leading provider of advanced technology solutions for banknote and product authentication and gaming security, is pleased to announce that it has received a notice of allowance from the United States Patent and Trademark Office for its technology for disinfecting banknotes from SARS-2 and other biohazards.  The patent is expected to be issued within 6 weeks.  Additionally, patent applications have been filed in other regions worldwide.

The technology can disinfect five million notes in less than 2 hours and uses nitrogen obtained from the ambient air to create an oxygen-free atmosphere, along with heat, to deactivate SARS-2.

Commenting on the results, Nabil Lawandy, Chief Executive Officer, said:

"The Covid-19 pandemic has raised questions about the health safety of banknotes.  Given that several new SARS-2 variants have been shown to be more virulent, it is likely that Covid-19 will become endemic.  Central banks and Casinos that exchange cash with the public may conclude that a proactive approach rather than denial is the logical approach to maintaining the use of cash worldwide. Our newest product is designed specifically to address this situation effectively, and its patent was we understand allowed in record time"

Enquiries:

Spectra Systems Corporation

Dr. Nabil Lawandy, Chief Executive Officer                                                 Tel: +1 (0) 401 274 4700

WH Ireland Limited

Chris Fielding (Managing Director, Corporate Finance)                              Tel: +44 (0) 20 7220 1650

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014.