FREMONT, Calif., Nov. 07, 2017 (GLOBE NEWSWIRE) -- Digital Power Corporation (NYSE.AMERICAN:DPW) (" Digital Power" or the " Company"), a company seeking to increase revenues through acquisitions and organic growth, announced today it has received capital financing towards the production of equipment to fulfill the purchase order received from MTIX, Ltd. on March 15, 2017. The Company said this is one of many purchase order financings the Company will execute to help fulfil the $50M contract that will span multiple years.

The Company also announced today it will be hosting on November 20, 2017, upon the close of the market, a conference call targeting investors and current shareholders to review the Company's third quarter financial results for 2017. The Company also stated it would answer a select set of questions emailed to it prior to the conference call. To participate in the conference call or to ask a question, please email IR@DigitalPowerCorp.com. For those seeking to participate in the conference call an invitation will be sent out a day prior to the call. The Company looks forward to communicating with its shareholders, investors, associates and others interested in the progress of the Company and its future.

The Company announced today that its current Board of Directors consists of the following members: Amos Kohn, Milton "Todd" Ault, III, Kristine Ault, Robert O. Smith, William Horne and Moti Rosenberg. The Company's current Chief Executive Officer and Interim Chief Financial Officer is Amos Kohn and Milton "Todd" Ault, III is the Company's Executive Chairman. The actions of the press release published on October 11, 2017 did not occur due to unforeseen circumstances. The Company apologizes for any confusion.

About Digital Power CorporationHeadquartered in Fremont, CA, Digital Power Corporation, through its subsidiaries, designs, manufactures and sells high-grade customized and off-the-shelf power system solutions. Our products are used in the most demanding communications, industrial, medical and military applications where customers demand high density, high efficiency and rugged power solutions. The Company's wholly owned subsidiary, Coolisys Technologies, Inc. headquartered in Fremont CA, provides world-class technology-based solutions where innovation is the main driver for mission-critical applications and lifesaving services. Coolisys' growth strategy targets core markets that are characterized by "high barriers to entry" and include specialized products and services not likely to be commoditized. Coolisys Technologies, Inc., www.Coolisys.com, a developer and manufacturer that services the defense, aerospace, medical and industrial sectors, has 3 subsidiaries including Digital Power Limited dba Gresham Power Electronics based in Salisbury, UK, www.GreshamPower.com; Microphase Corporation based in Shelton, CT, 1-203-866-8000, www.MicroPhase.com; and Power-Plus Technical Distributors based in Sonora, CA, 1-800-963-0066, www.Power-Plus.com. Digital Power Lending, LLC, a wholly-owned subsidiary of the Company based in Fremont, CA, and is a California private lending company dedicated to strategically providing capital to small and middle size businesses for an equity interest in addition to loan fees and interest, www.DigitalPowerLending.com. Excelo, LLC, a wholly-owned subsidiary of the Company, is a national search firm specializing in fulfilling strategic executive, professional and hi-tech placements for businesses delivering world-class services; www.Excelo.com.

As previously reported, subject to shareholder approval, the Company will be undergoing a corporate reorganization, including the reincorporation from the State of California to the State of Delaware and changing its name to DPW Holdings, Inc. to better reflect its new business model as a holding company. In connection with the reorganization, the Company will retain its stock symbol. The Company shareholders will be receiving a proxy statement which will discuss in detail these and other important issues to be voted upon at its annual shareholders meeting.

Digital Power's headquarters is located at 48430 Lakeview Blvd., Fremont, California, 94538; 1-877-634-0982, www.DigiPwr.com. For Investor Relations inquiries: IR@DigiPwr.com or 1-888-753-2235; www.DigitalPowerCorp.com

Forward-Looking StatementsThe foregoing release contains "forward looking statements" regarding future events or results within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements concerning the Company's ability to acquire additional capital financing to fulfill the purchase order issued from MTIX, Ltd. or the ability of the Company to successfully produce the equipment and services required by the contract with MTIX, Ltd., the ability of the Company to complete its 2017 third quarter filing or conduct the investor/shareholder conference call on November 20, 2017, and that the Company will complete its reincorporation. The Company cautions readers that such "forward looking statements" are, in fact, predictions that are subject to risks and uncertainties and that actual events or results may differ materially from those anticipated events or results expressed or implied by such forward- looking statements. The Company disclaims any current intention to update its "forward looking statements," and the estimates and assumptions within them, at any time or for any reason. More information about potential risk factors that could affect the Company's business and financial results are included in the Company's most recent filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company's Forms 10-K, 10-Q and 8-K. All filings are available on the Company's website at www.DigitalPowerCorp.com.