Micron Solutions, Inc. Announces Resignation of CFO

FITCHBURG, Mass., June 28, 2021 (GLOBE NEWSWIRE) — Micron Solutions, Inc. (OTCQB: MICR) (the “Company”), a diversified contract manufacturing organization, through its wholly-owned subsidiary, Micron Products, Inc., producing highly-engineered, innovative components requiring precision machining and injection molding, announced that Wayne Coll, Chief Financial Officer, Treasurer and Secretary, will be leaving the Company on July 16, 2021. The Company thanks Mr. Coll for his many significant contributions to the Company over the past two years, including the recently closed sale-lease back transaction and updates to the Company’s business reporting and systems.

CEO Bill Laursen commented, “Wayne’s leadership and successful efforts in enhancing our business reporting and systems, and the recent completion of the sales-lease back transaction will be an important part of Micron’s success going forward and part of Wayne’s legacy.”

“During the two years I have been with Micron Solutions, the Company has gone through a significant transformation, both in its business culture and in its business systems, despite mostly occurring during the Covid-19 pandemic. With the recent close of the sale-leaseback transaction, my role in the Company is shifting from implementation to maintenance, and this has enabled me to make the decision to move to a new challenge,” said Wayne Coll, Chief Financial Officer.

The Company has initiated a search for Mr. Coll’s replacement. At this time, the Company has not appointed an interim replacement for Mr. Coll.

About Micron Solutions, Inc.

Micron Solutions, Inc., through its wholly-owned subsidiary, Micron Products, Inc., is a diversified contract manufacturing organization that produces highly-engineered, innovative medical device components requiring precision machining and injection molding. The Company also contract manufactures components, devices and equipment for military, law enforcement, industrial and automotive applications. In addition, the Company is a market leader in the production and sale of silver/silver chloride coated and conductive resin sensors used as consumable component parts in the manufacture of integrated disposable electrophysiological sensors. The Company’s strategy for growth is to build a best-in-class contract manufacturer with a specialized focus on plastic injection molding and highly-engineered medical devices and components requiring precision machining.

The Company routinely posts news and other important information on its website: http://www.micronsolutions.com. 

Safe Harbor Statement

Forward-looking statements made herein are based on current expectations of Micron Solutions, Inc. (“our” or the “Company”) that involve a number of risks and uncertainties and should not be considered as guarantees of future performance. Therefore, actual results may differ materially from what is expressed in or implied by these forward-looking statements. The factors that could cause our actual results of operations, financial condition, performance or achievements to be affected materially include, but are not limited to, our ability to obtain and retain order volumes from customers who represent significant proportions of net sales; our ability to maintain our pricing model, offset higher costs with price increases and/or decrease our cost of sales; variability of customer delivery requirements; the level of and ability to generate sales of higher margin products and services; our ability to manage our level of debt and provisions in any debt agreements which could make the Company sensitive to the effects of economic downturns and limit our ability to react to changes in the economy or our industry; failure to comply with financial and other covenants in any credit facility; our ability to enter into a new credit facility on terms of commercially reasonable terms or at all; the impact on the Company’s financial results due to economic uncertainty and disruption including, but not limited to, recent events concerning COVID-19; reliance on revenues from exports and impact on financial results due to economic uncertainty or downturns in foreign markets; volatility in commodity and energy prices and our ability to offset higher costs with price increases; continued availability of supplies or materials used in manufacturing at competitive prices; variations in the mix of products sold; and the amount and timing of investments in capital equipment, sales and marketing, engineering and information technology resources. The Company assumes no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. More information about the Company’s financial results is included in the Company’s Quarterly Report for the quarter ended March 31, 2021 and our most recent Annual Report for the fiscal year ended December 31, 2020, which are posted at https://www.otcmarkets.com/stock/MICR/ and https://micronsolutions.com/.