Patriot Energy Signs Memorandum of Understanding With Toshent Overseas
April 21 2009 - 9:30AM
Marketwired
Patriot Energy Corporation (PINKSHEETS: PGYC) announced today that
they have signed a memorandum of understanding with Toshent
Overseas for the purchase and distribution of 100,000 yearly H2O
Injectors.
According to the MOU, Toshent Overseas will purchase and
distribute the H2O device in the Russian marketplace and Eurasia on
a non-exclusive but preferential basis. The companies are currently
negotiating the final numbers and delivery and intend to move to a
Letter of Intent and or agreement within the next 10 days. In the
event this distribution agreement is concluded, it would be a
transaction valued at over $170 million over the next 5 years
"These negotiations and new potential large order is a continued
proof of the significance of our technologies and its market
acceptance." Said Mr. Tony Bisante, President of Patriot Energy
Corp. "Not only it solidifies our current purchase offer
transaction, it can truly propel our company to the next level"
further added Bisante.
About Patriot Energy Corporation
Patriot Energy Corp. is a management holding corporation, which
owns a wholly owned subsidiary named TelTeck Solutions and owns a
99 year exclusive leased license agreement with Tectane
Technologies Corporation for the Dual H2O Engine Oxygenator and New
Tri-Brid Engine (Electric/Flex-Fuels/H2O) Technologies. Patriot
Energy specializes in the development and marketing of energy
efficient technologies with a focus on reducing America's
dependence on Foreign Oil.
All statements in this news release that are other than
statements of historical facts are forward-looking statements,
which contain our current expectations about our future results.
Forward-looking statements involve numerous risks and
uncertainties. We have attempted to identify any forward-looking
statements by using words such as "anticipates," "believes,"
"could," "expects," "intends," "may," "should" and other similar
expressions. Although we believe that the expectations reflected in
all of our forward-looking statements are reasonable, we can give
no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause
those results to differ materially from those indicated in any
forward-looking statements made by us or on our behalf. Such
factors include our limited operating history; our need for
significant capital to finance internal growth as well as strategic
acquisitions; our ability to attract and retain key employees and
strategic partners; our ability to achieve and maintain
profitability; fluctuations in the trading price and volume of our
stock; competition from other providers of similar products and
services; and other unanticipated future events and conditions.
Contacts: Momentum IR Max Gagne 514-913-0351 877-253-7001
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