W Technologies, Inc. Establishes New Subsidiary, WT Real Estate Development Corp.
February 26 2014 - 8:30AM
Marketwired
W Technologies, Inc. Establishes New Subsidiary, WT Real Estate
Development Corp.
HUNTINGTON BEACH, CA--(Marketwired - Feb 26, 2014) - W
Technologies, Inc. (PINKSHEETS: WTCG) (www.wtechnologies.biz)
announced today that as part of the Company's growth and business
plan it has established a new subsidiary, WT Real Estate
Development Corp., with offices in New York and Las Vegas. WT Real
Estate Development Corp. has already identified several investment
opportunities and is in the process of negotiating deal terms.
Gary Koelsch, President of W Technologies, Inc. stated, "The new
President of WT Real Estate Development, Corp. is Ilwon Kang. A
1983 graduate of Columbia University and a veteran of New York City
real estate development since 1987, Mr. Kang has extensive
development experience, including working for the New York City
Department of Housing Preservation and Development, where he was
involved in the development of several thousand units of housing.
Mr. Kang also led the planning and implementation of the New York
City Housing Authority's Construction Management Program, where he
managed more than $500 million in modernization work for NYCHA,
owner of more than 180,000 apartments. In the private sector, Mr.
Kang has worked for several real estate owners and investors
developing and managing more than 5,000 residential units
representing more than $3 Billion worth of assets in New York City.
In 2008, he founded Gemini International LLC to focus on select
luxury mixed- use hotel/residential projects in Manhattan."
Mr. Koelsch went on to say, "We are fortunate to have Mr. Kang
on our team and we look forward to getting our first project off
the ground. In addition to considering an investment in a hotel
development project in San Antonio, Texas, we are also negotiating
the purchase of a site for a mixed-use condominium project in lower
Manhattan. These projects will require financing by the Company and
terms and conditions are not available at this time."
About W Technologies, Inc. W Technologies, Inc.
(www.wtechnologies.biz), whose stock is publicly traded under the
symbol (PINKSHEETS: WTCG), is a diversified holding company with
the mission to develop, manage and finance emerging companies. W
Tech will be involved in the development of new social media and
digital advertising technologies, on-line shopping, new
environmentally-safe oil and gas recovery technologies, new clean
water technologies, financial services involving residential and
commercial real estate and other emerging markets. The Company
expects to bring a paradigm shift in the use of these new
technologies in the respective business sectors and to develop new
methods to finance its affiliated companies. Through its
subsidiaries and affiliates with their experienced personnel, W
Tech will seek to grow through acquisitions, joint marketing
arrangements and organic growth in emerging markets.
Precautionary and Forward-Looking Statements This release
contains "forward-looking statements" 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, and such
forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
"Forward looking statements" describe future expectations, plans,
results, or strategies and are generally preceded by words such as
"may," "future," "plan" or "planned," "will" or "should,"
"expected," "anticipates," "draft," "eventually" or "projected."
You are cautioned that such statements are subject to a multitude
or risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements, including the risks that actual results
may differ materially from those projected in the forward-looking
statements as a result of various factors, and other risks
identified in the Company's disclosures or filings with OTC
Markets, Inc. You are further cautioned that stocks of smaller
companies like W Technologies, Inc. are inherently volatile and
risky and that no investor should buy this stock unless they can
afford the loss of their entire investment.
Contact: W Technologies, Inc. Investor Relations 800-850-9601