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Exhibit 10.4
[GRAPHIC OMITTED]
BRIGHTEC
(TM)
o
o o Be Brilliant.
Brightec, Inc., signs $10 million Standby Equity Distribution
Agreement
South Natick, MA - April 3, 2007 - Brightec, Inc., (OTCBB: BRTE.OB)
creator of
the world's first photographic quality glow-in-the-dark paper,
today announced
it has executed a standby equity distribution agreement (SEDA) with
Cornell
Capital Partners, LP ("Cornell") of Jersey City, NJ. Under the
terms and
conditions of this agreement, over a 24-month period beginning on
the effective
date of the registration statement of the company's shares, Cornell
has
committed to provide up to $10 million in equity financing to
Brightec. Whereby
Brightec may, at its discretion, periodically sell the registered
shares of its
common stock to Cornell at a 4% discount from the market price.
Specific details
of the terms and conditions of the SEDA can be found in a Current
Report on Form
8K filed with the Securities and Exchange Commission.
"The structure of this agreement gives us the flexibility of
drawing funds, at
the company's option, for working capital." said Patrick Planche,
President and
CEO of Brightec. "We worked long and hard to negotiate terms that
worked for
both Brightec and Cornell. This agreement is a significant step for
us and will
provide us with the resources we need to position Brightec as the
media of
choice for printable glow-in-the-dark for the commercial and
digital printing
industry", added Mr. Planche.
About Brightec
Brightec, Inc. (OTCBB: BRTE.OB) is the creator of the world's
first
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