The TSX Venture Exchange has accepted for filing documentation pertaining to an asset purchase agreement, dated June 15, 2012, between Vuzix Corp. and an arm's-length party whereby the company has agreed to sell its tactical display group assets, which include manufacturing equipment, tooling and other fixed assets, certain patents and trademarks, and a licence to various trade secrets. Total consideration received for the sale will be $8.5-million in cash plus an additional $2.5-million earn-out provision if certain quarterly and/or annual revenue milestones are reached by the purchaser within the first year of the agreement.

For further information, please refer to the company's news release dated June 18, 2012.