Press Release

API Technologies Announces Preferred Stock Redemption and Consolidation of Credit Facilities

ORLANDO, Fla.– (Business Wire) – March 26, 2014 - API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a leading provider of high performance RF/microwave, power, and security solutions for critical and high-reliability applications, today announced the redemption of all of its Series A Preferred Stock for $27.6 million. Additionally, the Company amended its credit agreement with Guggenheim Corporate Funding, LLC, as administrative agent, to provide for an additional $55.0 million term loan. The proceeds of the incremental term loan were primarily used to redeem the Series A Preferred Stock and to pay off the Company’s asset backed revolving loan facility.

Bel Lazar, President and Chief Executive Officer of API Technologies said: “This transaction results in an immediate reduction in API’s net liabilities and simplifies our capital structure without incurring any dilution to our equity holders.”

About API Technologies Corp.

Power Systems and EMI Solutions to be Highlighted by API Technologies at APEC 2014

Power management products, power filters, and film capacitors to be spotlighted

Orlando, FL – February 28, 2014 – API Technologies Corp. (NASDAQ:ATNY), a leading provider of high performance RF/microwave, power, and security solutions for critical and high-reliability applications, will showcase its Power Systems and Electromagnetic Integrated Solutions product lines at Booth #1133 during the Applied Power Electronics Conference (APEC). The APEC 2014 Exhibition takes place March 17-19, 2014 at the Fort Worth Convention Center in Fort Worth, TX.

Durable, Low Pressure Overmolded Backshell Cable Assemblies Available from API Technologies

Backshells Offer Improved Reliability and Superior Strain Relief

Orlando, FL February 24, 2014 – API Technologies Corp. (NASDAQ:ATNY), a leading provider of high performance RF/microwave, power and security solutions for critical and high-reliability applications, now offers durable, low pressure overmolded backshells on connector interfaces from its Electromagnetic Integrated Solutions (EIS) product line, the leader in EMI/RFI components and interconnects. This simplified backshell design is readily available and more cost-effective than its metal counterpart.

API Technologies Reports Results for the Fiscal Fourth Quarter Ended November 30, 2013

  • Fourth quarter revenue of $59.1 million, up 10.7% over prior fiscal year fourth quarter
  • Revenue from continuing operations for fiscal year 2013 of $244.3 million compared to $242.4 million in fiscal year 2012
  • Term loan repayments totaling $92.4 million through February 12, 2014

ORLANDO, Fla.– (Business Wire) – February 12, 2014 - API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a leading provider of high performance RF/microwave, power, and security solutions for critical and high-reliability applications, today announced results for the fiscal fourth quarter and twelve months ended November 30, 2013.

API Technologies Wins New $3.9 Million Order for Microwave Subsystems from MBDA for Use in Sea Ceptor Program

ORLANDO, Fla.– (Business Wire) – February 11, 2014 - API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a leading provider of high performance RF/microwave, power, and security solutions for critical and high-reliability applications, today announced that it has received a new, $3.9 million order for microwave subsystems from MBDA for use in the Sea Ceptor program, MBDA’s next generation, single-tier, all-weather air defense system.

No additional information is available due to the secure nature of this program. 

API Technologies Earns FIPS 140-2 Publication Validation for Cryptographic Module from NIST: Module Added to Short List of Products Qualified to Protect Sensitive Government and Military Information

ORLANDO, Fla.– (Business Wire) - February 7, 2014 - API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a leading provider of high performance RF/microwave, power, and security solutions for critical and high-reliability applications, announced today that its Common Cryptographic Module has been validated by the National Institute of Standards and Technology’s (NISTs) Federal Information Processing Standard (FIPS) Publication 140-2.

This standard’s validation assures the U.S. Department of Defense, and its agencies, that API’s Common Cryptographic Module meets the rigorous security requirements for government and military use. Only modules tested and validated to FIPS 140-2 (and its predecessor FIPS 140-1) meet the applicability requirements to protect sensitive information.

API Technologies Announces Fourth Quarter Earnings Call

ORLANDO, Fla.– Business Wire – January 30, 2014 - API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a leading provider of high performance RF/microwave, power, and security solutions for critical and high-reliability applications, today announced that it would issue its earnings release for the fiscal fourth quarter and year-ended November 30, 2013 after the market closes on February 12, 2014. A conference call to review the Company’s results will be held on February 13, 2014 at 10 a.m. EST. Bel Lazar, President and Chief Executive Officer, and Phil Rehkemper, Executive Vice President and Chief Financial Officer, will host the call.

API Technologies Introduces Radiation Tolerant Voltage Controlled Surface Acoustic Wave Oscillators (VCSOs)

Manufactured using a MIL-PRF-38534 Class K certified facility

Orlando, FL – January 23, 2014 - API Technologies Corp. (NASDAQ:ATNY) a leading provider of high performance RF/microwave, power, and security solutions for critical and high-reliability applications, now offers a new line of radiation tolerant voltage controlled Surface Acoustic Wave (SAW) oscillators (VCSO) for space, satellite communications, and aerospace systems. API Technologies is the first manufacturer of radiation tolerant VCSOs utilizing a MIL-PRF-38534 Class K certified facility.

API Technologies Receives New $1.4 Million Order for Power Systems

ORLANDO, Fla.– January 22, 2014 - API Technologies Corp. (NASDAQ:ATNY) ("API" or the "Company"), a leading provider of high performance RF/microwave, power, and security solutions for critical and high-reliability applications, announced today that it has received a new, $1.4 million order for TPS75 Tactical Power Supplies. The Company-designed power systems, which debuted at the Association of the United States Army (AUSA) Annual meeting and Exposition in October, will be used by the U.S. Department of Defense as a lightweight, mobile power supply to support a variety of C4ISR, UAV, and mission control applications.

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