Battery Technologies Inc. Signs Purchase Agreement With Swedish 'Dema' Group.Business Editors TORONTO--(BUSINESS WIRE)--May 7, 2001 Battery Technologies Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BTIOF)(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BTI BTI Beverage Testing Institute BTI Boyce Thompson Institute BTI British American Tobacco (stock symbol) BTI Boston Theological Institute Bti Bacillus Thuringiensis Israelensis BTI BioTechnology Institute BTI Binding Tariff Information .) today announced that it has signed a definitive agreement as of May 4, 2001 with Mr. Mats Saljstam, to purchase from him, 100% of the privately held Dema Group of Companies ("Dema Group") of Oskarshamn, Sweden. The Dema Group is a sales, marketing and distribution company which is the Scandinavian distributor for Toshiba(TM) batteries. It currently has exclusive rights for Toshiba's line of Alkaline alkaline /al·ka·line/ (al´kah-lin) (-lin) 1. having the reactions of an alkali. 2. having a pH greater than 7.0. al·ka·line adj. 1. products for Sweden, Norway, Finland, Denmark, Iceland and the Netherlands. In addition, Dema sells battery packs and rechargeables to a broad range of OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and customers in Scandinavia; most noteably Nokia, Ericsson, SEI and Flextronics. Dema's product portfolio also includes Demacell(TM), BTI's patented RAM(TM) battery system which was launched by Dema in 1998 in Sweden and subsequently in other European markets, and Demacell Smartlight(TM), an environmentally friendly Environmentally friendly, also referred to as nature friendly, is a term used to refer to goods and services considered to inflict minimal harm on the environment.[1] line of energy saving lightbulbs. The purchase price for Dema is a combination of approximately 1.5 million BTI shares upon closing, and further BTI shares, subject to the achievement of certain performance targets by Dema's management, over the next 24 months. The sale of the BTI shares to be issued as part of this acquisition are subject to a Share Sales Restriction Agreement entered into between BTI and Mr. Saljstam. Subject to satisfaction of applicable conditions, including receipt of all necessary regulatory approvals, the closing of this transaction is expected in the month of May. "This is the critical step in BTI's pursuit of its new strategic mandate and we're very pleased to have concluded our discussions with the Dema Group," said J. Bruce Pope, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of BTI. "We will have the nucleus of a solid business base in Europe and the potential for business expansion beyond current markets and brands. Mats Saljstam, now an important BTI shareholder, is the President of our Scandinavian business and I am very confident that together, we represent a formidable team that will grow BTI's fortunes. The priority for the business is volume growth and further establishing a customer base that will lead to accelerated development of RAM(TM) batteries in retail and OEM accounts." Mr. Pope added, "I anticipate that BTI's future development of a European business will include additional geographic entities (Data West Research Agency definition: see GIS glossary.) An entity or geographic feature that occupies a position in space about which data describing the attributes of the entity and its geographic location are recorded. that will provide both synergy and mass. Negotiations with the previously announced Accucell Deutschland have not been concluded as of this date, but final determination of its viability is anticipated shortly." Battery Technologies Inc. holds 43 patents and is engaged in the worldwide commercialization of the RAM(TM) battery technology and other portable energy products. The Company's RAM(TM) licensees and licensee licensee n. a person given a license by government or under private agreement. (See: license, licensor) LICENSEE. One to whom a license has been given. 1 M. Q. & S. 699 n. trademarks include: Rayovac Corporation, Renewal(TM); Young Poong Corporation, Alcava(TM); Pure Energy Battery Corporation, Pure Energy(TM) and Grand Battery Technologies, Grandcell(TM). RAM(TM) battery products are available in AA, AAA AAA: see American Automobile Association. (Triple A) A common single-cell battery used in a myriad of electronic devices of all variety. Like its double A (AA) cousin, it provides 1.5 volts of DC power. When used in series, the voltage is multiplied. , C and D sizes. Except for the historical statements contained herein, the matters discussed in this news release, including any revenue, expense and earnings expectations, are forward looking statements that involve risks and uncertainties. Factors that could cause actual results to differ materially include but are not limited to: the Company's ability to achieve its corporate objectives, uncertainty of additional funding requirements, variable economic and market conditions, disruption of production at any of the Company's licensee's manufacturing facilities, political and other disruptive developments, foreign currency restrictions and/or fluctuations, technological developments by competitors, a successful challenge to the validity of the Company's patents, or any of the other variables referenced in the Company's 20-F filing with the SEC, dated June 29, 2000. Readers are cautioned not to place undue reliance on forward looking statements. 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. Demacell(TM) and Smartlight(TM) are registered trademarks of the Dema Group of Companies, Oskarshamn, Sweden. Accucell(TM) is a registered trademark of Accucell Deutschland. BTI's press releases are available through the Company's Website: http://www.bti.ca. |
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