Photo Release -- T3 Motion Announces New Exclusive International Distribution Agreement for South Africa
January 23 2014 - 5:00PM
www.t3motion.com - T3 Motion,
Inc. (OTCBB:TTTM) the leading provider of EV technology to
commercial, consumer, law-enforcement and government markets, today
announced that it has signed a new long-term Exclusive Distribution
Agreement for the distribution of its vehicles for Government, Law
Enforcement and Security operations in South Africa.
A photo accompanying this release is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=23209
The new agreement, with an initial term of five (5) years, has
been completed with South African businessman, Mr. Dalo Nala of
Johannesburg. Mr. Nala has demonstrated his strength and commitment
to fully support our efforts in South Africa since we first began
our relationship there in 2010.
T3 Motion CEO, William Tsumpes stated, "I could not be more
pleased with the results of our latest negotiations and
achievements, and am proud to be able to consummate our efforts of
the past 8 months in this new agreement. Under the terms of this
agreement T3 Motion has an opportunity to significantly grow our
international sales and worldwide distribution at a much faster
rate than what has been previously possible."
"Under the terms of the new agreement we expect to be able to
more than double our international shipments in 2014 which we
expect to have a profound effect on the company's previous
financial performance," Tsumpes said. The initial opening order
under the new agreement for immediate deliveries is valued at more
than $800,000.00 of which the company began early shipping on
December 31, 2014.
"I want to thank T3 Motion for the opportunity to become such an
integral part of their global expansion efforts into South Africa
and believe this is only the beginning of what's to come," stated
Mr. Nala.
He continued, "We've got great opportunities ahead of us and am
extremely confident in our abilities to achieve our long term goals
for deployment into the region. The deployment of T3 Vehicles in
Security operations in South Africa represent a huge opportunity to
improve the way security operations are delivered. The T3 vehicles
will allow both commercial and government related security
operations to achieve new levels of protection for the people of
South Africa. This new agreement is truly a landmark result for
everyone."
T3 Motion, Inc. (OTCBB:TTTM) headquartered in Orange County,
California, T3 Motion is dedicated to raising the bar on personal
mobility technology. More than 5,000 T3 Series vehicles have been
deployed in over 30 countries worldwide. For more information,
visit www.t3motion.com.
"Safe Harbor" Statement under the Private Securities
Litigation Reform Act of 1995: Statements in this press
release regarding T3 Motion's business, which are not historical
facts, are "forward-looking statements" that are not guarantees of
future performance. Such forward-looking statements are subject to
risks and uncertainties that may cause actual results to differ
materially from those anticipated by the forward-looking
statements. These risks and uncertainties include, among others,
factors associated with market conditions and the satisfaction of
customary closing conditions related to the proposed public
offering. For additional information concerning these and other
factors that may cause actual results to differ from those
contained in the forward-looking statements, see "Risk Factors" in
the Company's Registration Statement filed on Form S-1, as amended,
and in periodic reports the Company files from time to time with
the Securities and Exchange Commission.
CONTACT: Company Contact
William Tsumpes, CEO
T3 Motion, Inc.
(714) 619-3600
investor@t3motion.com