Battery Technologies Inc. Announces Extension Of Notice Of Intent, `NOI', Creditor Protection Period.Business Editors TORONTO, Ontario--(BUSINESS WIRE)--May 1, 2003 Battery Technologies Inc., (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BTI) (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BTIOF) (BSE See Bombay Stock Exchange. BSE See Boston Stock Exchange (BSE). :BTM BTM See: Book to market. ) today announced that it has received from the Ontario Superior Court of Justice The Superior Court of Justice for Ontario, Canada is the successor to the former Ontario Court of Justice (General Division), and was created on April 19 1999. Its predecessor, the Ontario Court (General Division) was the result of the 1990 merger and discontinuance of the previous a six-week extension until June 13, 2003 for the filing of its restructuring proposal to creditors. The extension follows from the original "Notice of Intention to Make a Proposal" announced by the Company on March 31, 2003, and subsequently filed, which granted the Company protection from creditors for an initial 30 day period while restructuring alternatives were considered. The extension will enable the Company to review and pursue expressions of interest received from third parties with respect to a possible investment or acquisition that could form the basis of a viable proposal to creditors. J. Bruce Pope, Chairman, President and CEO said: "We're appreciative of the additional time granted by the Court, as we believe all stakeholders' interests are best served by the opportunity for management and the Board, with the assistance of our proposal trustee, A. Farber & Partners Inc., to pursue in more detail the expressions of interest we have received. We hope to be in a position to make more definitive statements about BTI's opportunities shortly." BTI is the inventor, developer and owner of the unique, patented rechargeable alkaline manganese (RAM(TM)) battery technology on which it holds 43 patents related to chemistry, product design and manufacturing processes. BTI is engaged in the worldwide commercialization of the RAM(TM) technology and other portable energy products. RAM(TM) is a registered trademark of Battery Technologies Inc., Richmond Hill, Ontario Richmond Hill (2006 population 162,704) is a town in York Region north of Toronto, Ontario, Canada. It is part of the Greater Toronto Area. History The area was first surveyed by Lieutenant-Governor John Graves Simcoe in 1794 while he was constructing Yonge Street. , Canada |
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