Key Capital Group Inc. - Announcement.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--May 7, 2002 David McLeod, President of Key Capital Group Inc. (CDNX CDNX See Canadian Venture Exchange (CDNX). : KYC KYC Know Your Customer KYC Know Your Client ) (the "Company"), is pleased to announce the formation of a "Strategic Alliance" with Power Technology Inc. ("Power Technology") of Nevada, USA. A Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. has been negotiated between the two corporations defining the tasks needed in the development of an "Energy Package" targeted towards the emerging "Electric Bike Market". The focus of this joint development program will be to integrate the advanced lead acid technology developed by Power Technology and the Accelrate(TM) charger CHARGER, Scotch law. He in whose favor a decree suspended is pronounced; vet a decree may be suspended before a charge is given on it. Ersk. Pr. L. Scot. 4, 3, 7. technology into one package. "The synergy created between these two technologies will allow us to develop a unique energy package", stated Mr. McLeod. "The benefit to the end user will essentially be, twice the distance, in the same volume and weight and with a two hour full charge time." Mr. Lee Balak, President of Power Technology said, "The marriage of these technologies is exactly what the market place is looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. . Both of our companies have been discussing this opportunity for some time and we feel now is the best time to go forward. We are excited about this opportunity and look forward to a mutually beneficial Adj. 1. mutually beneficial - mutually dependent interdependent, mutualist dependent - relying on or requiring a person or thing for support, supply, or what is needed; "dependent children"; "dependent on moisture" relationship." The "Strategic Relationship" will encompass a joint development program and joint marketing activities. Each corporation will be responsible for its development costs but will jointly market the new product. Product launch is anticipated to be within the next twelve months. Power Technology Inc. is a Nevada incorporated company trading on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on - OTCBB OTCBB See OTC Bulletin Board (OTCBB). . Power Technology engages in the business of development of Battery Technology for electric automobiles and other applications. Power Technology has developed a lead acid battery that will be substantially lighter than the conventional lead acid batteries, have a quicker recharge rate, be more cost effective and will be more 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] . Power Technology's concept of increasing output or current is directly related to the surface area of the electroplates exposed to the electrolytes. Power Technology has changed the mechanical structure of the battery so that the surface area of the electroplates may be increased to a factor of up to 1,000 times the surface area of conventional batteries. This increase in surface area of the electroplates will increase the current and at the same time will:
(a) reduce the weight of the battery by 30 to 50% of existing
batteries;
(b) reduce the cost of the battery by employing a different metal
or alloy;
(c) make the battery much more environmental friendly by changing the
alloy and or changing the chemistry to create the current and
minimizing materials.
Key Capital Group Inc. is a Canadian public corporation listed on the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. (formerly the Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) ). Key Capital has developed a "Charger Protocol" designed to be integrated into an existing transformer type charger or into a new "soft switching power conversion charger" allowing each of these charger types to be used as a "Fast Charger". The conversion of these standard charger types to a fast charger is accomplished without the negatives associated with "Fast Charging" protocols. One of the major negatives associated with "Fast Charging" is reduced battery life. Key Capital has demonstrated that this "Fast Charging" protocol enhances battery life. This proprietary technology is called Accelrate(TM). ON BEHALF OF THE BOARD OF DIRECTORS OF KEY CAPITAL GROUP INC. David McLeod, President Contact Information: Mr. David McLeod, President Telephone: (604) 688-8656 Email: david@keycapital.net Certain statements in this press release are forward-looking in nature, and, accordingly, are subject to risks and uncertainties. The actual results may differ materially from those described or contemplated. The TSX Venture Exchange (formerly the Canadian Venture Exchange) has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release. |
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