BELMONT, Mass., June 19, 2007 (PRIME NEWSWIRE) -- Kronos Advanced Technologies, Inc. (OTCBB:KNOS) announced today that it has entered into a Funding Agreement with a group of lenders providing for a loan, at the discretion of the lenders, in the aggregate amount of up to $18,159,000. At the initial closing, the Company received an initial advance of $4,259,000. After payment in full of the amounts due under an outstanding convertible debenture issued to Cornell Capital Partners and settlement agreement obligation to HoMedics and the expenses of the transaction, the remainder, estimated at approximately $1.1 million, will be used for working capital purposes.
