Optigain Recapitalized, Refunded

PEACE DALE, R.I. -- Optigain, Inc. and its wholly owned subsidiary, Optigain (RI), Inc., a leading developer, manufacturer and supplier of erbium doped fiber amplifiers (EDFAs) and Raman Pump Module amplification products for the fiber optical communication industry, today announced that it has been re-capitalized and received new funding which will enable Optigain to fully support its current business and forecasts while also aggressively supporting new product design and development efforts.Following the restructuring, Fitel Technologies, Inc. (FTI), a subsidiary of The Furukawa Electric Company, Ltd., (FEC) will continue as a minority Optigain shareholder and supplier to Optigain and will collaborate technically with Optigain in the continued development of new EDFA and Raman amplification products. Simultaneously, FEC, FTI and Optigain’s other shareholders have settled the all pending litigation. The terms of the recaptitalization and settlement have not been disclosed. Optigain’s research, design and manufacturing activities will be headquartered in its state of the art 25,000 square foot manufacturing facility in Peace Dale, RI.According to Dr. Harish Sunak, founder and CTO of Optigain, "We are excited that Optigain has the ability to service its current customer base, aggressively pursue new product innovation and capture increased market share going forward."Optigain Inc.Fitel Technologies Inc.