Patriot Energy Signs Multi-Year Distribution Agreement with Marmara Motorlu, a Deal Valued at $212 Million
May 11 2009 - 12:00PM
Marketwired
Patriot Energy Corporation (PINKSHEETS: PGYC) signed a multi-year
distribution agreement with Marmara Motorlu of the middle east; a
deal valued at US$212 million.
According to the distribution agreement, Marmara Motorlu will
guarantee the purchase of 125,000 units per year for a min. of 5
years and will transfer the carbon credits back to Patriot Energy
Corporation.
"We are very enthusiastic with our recent progress in signing
distributors to our product, our goal has always been to generate
at least $1 billion in sales over the next 5 years, and this new
agreement brings us closer to our goals", said Tony Bisante,
President and CEO of Patriot Energy Corporation. "Our strong sales
continue to add value to our company and further justify the price
demanded in the recent stock purchase offer", further added Mr.
Bisante.
Futher information can be found on Marmara Motorlu's website at
www.marmaragcc.com
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
Patriot Energy Corporati... (CE) (USOTC:PGYC)
Historical Stock Chart
From Apr 2024 to May 2024
Patriot Energy Corporati... (CE) (USOTC:PGYC)
Historical Stock Chart
From May 2023 to May 2024