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AmpliTech Expands Board and Enhances Corporate Governance Ahead of Expansion

Bohemia, NY, April 30, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- AmpliTech Group Inc. (OTCQB-AMPG) is pleased to announce the addition of Wayne Homschek to its Board of Directors as an Independent Director.  Mr. Homschek has been a Managing Director at Bentley Associates L.P., a New York based boutique investment bank, since 2015, where he has assisted a number of emerging technology companies in strategizing and financing their growth plans as well as in their mergers and acquisition (M&A) activities.  Mr. Homschek began his career in New York at the Prudential Investment Corporation, before re-locating to Sydney, Australia, where he worked in the investment banking teams of Prudential Bache, Jardine Fleming, NatWest Markets and Salomon Smith Barney/Citigroup.  At Salomon Smith Barney, he was responsible for the firm's Australasian telecom, media and technology (TMT) investment banking franchise, which included M&A, equity and debt offerings for some of Australia's leading companies including Telstra, Optus, Telecom New Zealand, Austar, Hutchison Orange, Austereo and many others.   


In addition to providing assistance to the leadership of the company in the areas of corporate strategy, financing and investor relations, as an Independent Director, Mr. Homschek will also be chairing the Audit Committee, Compensation Committee and Nominating Committee on the formation thereof, bringing increased corporate governance to the Board.

In commenting on his appointment, Mr. Homschek said, "After spending a number of months getting to know Fawad and the business he founded in 2002, I am excited to be joining his team as they embark upon an exciting new phase of growth.  They have differentiated products, unique IP, a strong and growing backlog, blue chip customers, a talented engineering team, exciting new product and channel opportunities as well as non-organic growth opportunities, and I look forward to working with them in leveraging these assets, while prioritizing the opportunities that arise, with the end objective of delivering long term value for all stakeholders." 

Fawad Maqbool, CEO and Chairman, responded by saying, "I am thrilled to have a seasoned investment banker, entrepreneur and investor such as Wayne committing his time and energy to our emerging company.  He should be invaluable to me in this next phase of our growth as it will allow me to better focus on our products, our customers and the opportunities that are emerging in the industries that we currently serve (custom and standard amplifiers for radar, missile systems, drones and many microwave communications systems), and will seek to serve in the future (innovative power and cryogenic amplifiers for 4G/5G wireless base stations, Wi-Fi for airlines, military jamming, quantum computing, internet of things, cyber security, life sciences and others)."

The appointment was effective as of April 25, 2019.


About AmpliTech Group, Inc.

AmpliTech Group, Inc. designs, develops, and manufactures custom and standard state-of-the-art RF components for the Domestic and International, SATCOMSpace, Defense and Military markets. These designs cover the frequency range from 50 kHz to 40 GHz - eventually, offering designs up to 100 GHz. AmpliTech also provides consulting services to help with any microwave components or systems design problems. Our steady growth over the past 13+ years has come about because we can provide complex, custom solutions for nearly ANY custom requirements that are presented us. In addition, we have the best assemblers, wires, and technicians in the industry and can provide contract assembly of customers' own designs. Click hereto view AmpliTech video. Website: http://www.AmpliTechinc.com

Forward-looking Statements

This release contains statements that constitute forward-looking statements. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.

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Fawad Maqbool, CEO and Chairman

fawad@amplitechinc.com