December 11, 2012

Gornitzky represents Avi Gross in a USD 2 million investment in Elbit Vision Systems.

Gornitzky & Co. represented Mr. Avi Gross in a USD 2 million non-brokered private placement in Elbit Vision Systems Ltd.

As part of the private placement, Gross will initially be allotted 5.3 million shares in exchange for USD 500,000 and will also extend the company a USD 300,000 loan. Furthermore, Gross will also receive two warrants – the first warrant exercisable for up to USD 200,000 of ordinary shares and the second for up to USD 1,000,000 of ordinary shares.

Mr. Gross was represented by Mr. Timor Belan (Partner) and Mr. Ariel Davis.

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