BLAINVILLE, Qc, Nov. 4 /PRNewswire-FirstCall/ -- The management of NewTech Brake Corp. (NASDAQ OTC : BB : NWTB) wishes to present the following statement of Mr. Bernard Lapointe, President of Alps Resources Bankers Canada: "The finalization of the financing from Capital Power International Limited in favor of NewTech Brake Corp. announced on June 1st, 2005 (Form 8-K) has been delayed a few weeks. This delay can be explained by the modalities and procedures required by the participating banks, that have now been completed. Alps Bankers Canada, during the last few weeks, has participated to the negotiation and the finalization of a financing agreement of Capital Power International Limited. During those negotiations, Alps Bankers Canada has given all the information required by the participating banks regarding the issuance of the necessary bank guarantees. According to the agreement mentioned above, Capital Power International Inc. will complete the subscription and financing agreement with the disbursement of the amount US$25M in favor of NewTech Brake Corp. according to the following schedule: - Investment of US$3M subscribed as restricted common shares from the treasury of NewTech Brake Corp.: disbursement on or before December 15, 2005. - First partial disbursement of US$5M in accordance with the Class A convertible debenture as stipulated in the original agreement: within 30 working days following the subscription of common shares of US$3M mentioned above. - Final disbursement of US$17M (minus the fees as agreed) in accordance with the Class A and Class B convertible debentures: within 30 working days following the date of the US$5M disbursement mentioned above." NewTech Brake Corp. intends to develop and market a new, high value-added generation of safer, more efficient and cost-effective full contact disc brakes and related components in the global heavy vehicle market. Forward-looking statements This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; and (iii) the Company's growth strategy and operating strategy. The words "may", "would", "will", expect", "estimate", "anticipate", "believe", "intend", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. DATASOURCE: NEWTECH BRAKE CORP. CONTACT: NewTech Brake Corp., Investors relation, (450) 434-6432, Fax.: (450) 434-6078,

Copyright