Lighting Solution Orders from Turner Construction Cancelled due to Fraudulent Activities

GOTHENBURG, Sweden, TORONTO, CHICAGO and TOKYO, June 17, 2020 /PRNewswire/ -- Heliospectra AB (publ) (North American ADR OTCQB: HLSPY, and Nasdaq First North Growth Market: HELIO), a world leader in intelligent lighting technology for greenhouse and controlled plant growth environments, announces that two orders from Turner Construction, which has previously been disclosed, have now been cancelled due to fraudulent activities.

Heliospectra announced the first order from Turner Construction on the 23^rd of April, with an order value USD $228 000, and the second order on the 11^th of May, with an order value of USD $270 000. While processing the orders it was discovered that the orders were not legitimate, and a full investigation, together with the US Authorities, was formed to recover the lights.

All lights from the two orders were successfully recovered, apart from 12 pieces, resulting in very little damage for the company. The persons found responsible for the fraud have no connection to either Turner Construction or Heliospectra, and are in police custody.

CONTACT:

Investor Relations:

Ali Ahmadian, CEO of Heliospectra | +46-(0)-72-203-6344 | ir@heliospectra.com

http://www.heliospectra.com

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SOURCE Heliospectra