Wataire Industries Inc. Announces Exclusive Distributor for Pakistan with Initial Order for $5.2 Million.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- Wataire Industries, Inc. (Pink Sheets:WTAF), an International company focusing on developing and delivering technology-based water harvesting systems, is pleased to announce the appointment of DZD DZD The ISO 4217 currency code for Algerian Dinar. INC., a company incorporated in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , as their exclusive distributor to the country of Pakistan, through their subsidiary, Jinnah Telecom. The agreement covers a term of three years with a renewal option for a further 3 years. The contract will initiate minimum orders to the company (Wataire) of 288 WII A video game console from Nintendo (www.nintendo.com) introduced in 2006. Pronounced "wee," it runs Wii and GameCube software and features a wireless motion sensing controller that looks like a TV remote rather than a game controller. 4010 generators per month. In addition to the monthly requirement, DZD has committed to purchase a minimum of 25 WII 2500 (liter per day) generators and 10 WII 5000 (liter per day) generators per year. This agreement will reflect product sales for Wataire Industries of approximately $5.2 million annually based on the minimums identified in the contract to maintain exclusivity. Wataire Industries has received an initial deposit from DZD and, upon receiving confirmation of their Letter of Credit, will commence shipping product immediately. We are also very pleased to announce the results of a microbiological analysis of a sample of water tested on our behalf by CANTEST, a member of the CANAM Group. The sample was submitted on June 28, 2005, and the report date of the results was July 4, 2005. The test results showed a Heterotrophic heterotrophic /het·ero·tro·phic/ (-tro´fik) not self-sustaining; said of microorganisms requiring a reduced form of carbon for energy and synthesis. Plate Count of 4, which is less than 1% of the World Health Organization's allowable limit of 500 as a guideline to determine if water is safe to drink. About Wataire Wataire was formed by a team of veteran executives with extensive experience in developing and bringing innovative products to market. The team is comprised of leaders and advisors who have extensive backgrounds in business administration, project management, manufacturing, international distribution, sales, and marketing. Wataire is committed to providing an array of innovative solutions that will help prevent fresh water shortages. On behalf of the Board Phil Fraser President & 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. Forward-looking statements in this release are made pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion