NW Tech Capital, Inc. Announces New Joint Venture for China Drug Store Distribution Center and Continued Telecom Revenues
October 09 2008 - 9:45AM
Marketwired
NW Tech Capital, Inc. (OTCBB: NWTT) announced today that it was
forming a new Joint Venture between its Hong Kong Subsidiary NW
Tech Capital Hong Kong (NWTTHK) with Zhuhai Jialun Guangcai Chain
Drugstore Co., Ltd. ("ZJG Drugstores") as a profit center to
develop new distribution centers for ZJG Drugstores. This modifies
a previous announcement on August 19, 2008 that the ZDG Drugstores
would become a subsidiary.
James Wheeler, President and CEO of NWTT stated, "The new Joint
Venture with ZJG Drugstores gives us a better platform to introduce
NWTTHK into the China Market and uses our knowledge of the US
Public market and capital market to form this Joint Venture. It
will eliminate a highly expensive and time consuming audit of over
400 drugstores and will allow NWTTHK and ZJG Drugstores to work
together to develop new distribution centers throughout China. NWTT
is currently working with a funding group interested in financing
the Joint Venture of the distribution centers. ZJG management will
operate these centers and distribute their products as well as
other products throughout China. This allows both companies to stay
with what they know best."
Wheeler states: "NWTT will stay focused on its subsidiary
Teledigit, Inc. and will continue to build upon its revenue stream
from Teledigit here in the United States. We will have the
Teledigit financial report for the 3rd quarter completed within 30
days. Revenues continue to improve and we look forward to expanding
our position in the Technology field."
About ZJG Drugstores
The ZJG Drugstores supply over 2000 chain drugstores in
Guangdong Province in the cities of Zhuhai, Zhongshan, Fuschan, and
Dongguan with over 700 internally manufactured products. Additional
information regarding the ZJD Drugstores is available at
http://www.gzhuang.cn/zhuhai/e_index.asp.
About Teledigit, Inc.
Teledigit, Inc. operates a Data & Telecommunications Company
in the Pacific Northwest. Established in 1995, Teledigit, Inc.
bases its operations out of Portland, Oregon serving customers
throughout the United States.
About NW TECH CAPITAL, INC.
NW Tech trades on the OTC Bulletin Board under the ticker symbol
"NWTT." For more information on NW Tech Capital or TeleDigit
contact investor@nwtechcapital.com or visit web site at
www.teledigitinc.com.
Certain Information
Investors are cautioned that certain statements contained in
this document as well as some statements in periodic press releases
and some oral statements of NWTT officials are "Forward-Looking
Statements": within the meaning of the Private Securities
Litigation Reform Act of 1995 (the "Act"). Certain statements in
this news release may contain forward-looking information and are
based on Management's current expectations, estimates and
projections subject to change. Words such as "anticipates,"
"expects," "intends," "plans," "targets," "projects," "believes,"
"seeks," "estimates" and similar expressions are intended to
identify such forward-looking statements. These statements are not
guarantees of future performance and are subject to certain risks,
uncertainties and other factors, some of which are beyond our
control and are difficult to predict. Therefore, actual outcomes
and results may differ materially from what is expressed or
forecasted in such forward-looking statements. You should not place
undue reliance on these forward-looking statements. Unless legally
required, the Company undertakes no obligation to update publicly
any forward-looking statements, whether as a result of new
information, future events or otherwise. The Company disclaims any
information that is created or distributed by any outside party and
endorses only information that is communicated by its official
Press Releases.
Contact Information: NW Tech Capital, Inc. Vancouver, WA James
Wheeler Chairman & CEO E-mail: Email Contact
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