Jan. 27, 2016

PEN Inc. (OTCQB: PENC) (OTCQB: PENCD) ("PEN" or "the Company"), a global leader in developing, commercializing and marketing enhanced performance products enabled by nanotechnology, today announced a 1-for-180 reverse split of its issued and outstanding shares of common stock.
Trading will begin on a post-split basis at the opening of the OTCQB marketplace on January 26, 2016. The Company's common stock will trade under the symbol "PENCD," with a "D" added for 20 trading days to signify that the reverse stock split has occurred. The new CUSIP number for the common stock following the reverse stock split is 706582 202.

The reverse stock split will reduce the total number of shares outstanding from approximately 543 million to approximately 3 million. Concurrent with the reverse stock split, the authorized shares of common stock will be reduced from 1.8 billion to 10 million. No fractional shares will be issued. If, as a result of the reverse stock split, a registered or beneficial stockholder would otherwise become entitled to receive a fractional share of common stock, the Company will round up to one whole share of common stock.
"We believe effecting a reverse split of our common stock serves the long-term interest of our shareholders, allowing us to attract interest from a broader range of investors and potential business partners. It also is an initial step to trading on the OTCQX," said Dr. Scott Rickert, PEN's Chairman and CEO.