Tag Archives: Artificial Life

Artificial Life, Inc. Announces Equity Investment from 3M and Strategic Alliance Agreement

Oct 26 – Artificial Life, Inc., (OTC Bulletin Board: ALIF) and 3M Company (“3M”; NYSE: MMM) today announced the signing of a securities purchase agreement (the “Purchase Agreement”) and a strategic alliance agreement between Artificial Life, Inc. and 3M Company.

Under the Purchase Agreement, Artificial Life, Inc. sold to 3M 6,447,491 shares of its common stock at a price of $1.00 per share, for an aggregate consideration of $6,447,491. The basic and diluted number of shares outstanding immediately after the transaction is 56,984,858 and 64,474,911, respectively. The proceeds will fund an equity contribution by 3M, representing a 10% equity interest in Artificial Life, calculated on a fully diluted basis.

Besides the investment, 3M and Artificial Life have entered into an alliance agreement (the “Alliance Agreement”) outlining the parties intent to collaborate in the coming years in projects related to the research and development of new mobile device products and technology. In addition, the Alliance Agreement provides that 3M and Artificial Life plan to cooperate in connection with the marketing of certain of Artificial Life’s existing and new products. The focus of the cooperation under the Alliance Agreement is expected to be in the following areas:

— General mobile and broadband applications and technologies
— Digital Watermarking
— Virtual Reconstruction of 2D and 3D Objects
— Augmented Reality
— 3D Image processing
— Object recognition
— Mobile Healthcare and Diabetes Solutions
— Mobile Marketing and M-Commerce Platform

“We are excited to become an investor in Artificial Life,” said Stefan Gabriel, president, 3M New Ventures. “We are looking forward to collaborating with Artificial Life on a number of exciting technology applications in these fast growing markets all across the wide range of 3M businesses.”

“We are honored that 3M has chosen us for a strategic investment and as a new cooperation partner in the mobile space. The investment and the alliance agreement with 3M provide a strong, global business opportunity for us. The cooperation will allow us to create innovative business and lifestyle applications for one of the leading innovators in the business world and the general public. We are looking forward to working with 3M on many projects in the coming years,” said Eberhard Schoneburg, CEO of Artificial Life, Inc.

The issuance of the shares of Artificial Life’s common stock in connection with the Purchase Agreement has not been registered under the Securities Act of 1933, as amended (the “Securities Act”). Accordingly, these securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy Artificial Life’s common stock.