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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: Norms who wrote (10565)	7/1/1999 12:40:00 PM
From: Mr. Fortune	Respond to of 108040

(COMTEX) B: (PYB.) Power Technology Announces Incorporation of Power B: (PYB.) Power Technology Announces Incorporation of Power Technologies of Canada Limited LAS VEGAS, Jul 1, 1999 (BUSINESS WIRE via COMTEX) -- Power Technology, Inc. (OTC BB: PWTC) announced today the incorporation of PowerTechnologies of Canada Limited/Les Technologies Power du Canada Limitee ("PowerCan"), a new wholly owned subsidiary of Power Technology based in Montreal, Province ofQuebec. Power Technology and PowerCan will enter into licensing agreements for Power Technology's Alloy Sensor Technology, Battery Technology and Magnetic Pulse Pipeline Joining Technology. Power Technology will grant to PowerCan an exclusive license to use, develop and commercialize its technology in Canada in exchange for shares in PowerCan. Upon completion of the technology transfers, Power Technology will hold approximately 5,000,000 common shares ofPowerCan. The capital of PowerCan has been structured in order to enable an eventual listing on a stock exchange and will have the ability to provide ownership to large strategic partners. As previously announced, Power Technology has entered into formal discussions with a major North American utility company for the development and commercialization of its technology. It is anticipated that once agreements are finalized, PowerCan will partner with theutility company, which will benefit PowerCan and the shareholders of Power Technology. "We are pleased to locate our company in the Province of Quebec," stated Mr. Lee Balak, President of Power Technology. "This province will have significant benefit to PowerCan, being the Government of Quebec currently offers low energy costs and one of the most advantageous R&D tax incentives in North America. We look forward to finalizing our negotiations with our potential partners, begin the commercialization of our products and to all Canadians benefiting from the eventual production of PowerCan's products, in powersaving benefits and job creation." Power Technology, Inc. is a Las Vegas-based technology development company, which holds several patents in the power generation and power storage fields, and is working to provide innovative and practical technology solutions for commercial, government and industrial applications worldwide. Certain statements in this news release may constitute "forward looking" statements within the meaning of section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve risks, uncertainties, and other factors, which may cause the actual results, performance, or achievement expressed or implied by such forward-looking statements to differ. POWER TECHNOLOGY, INC. is quoted on the OTC Bulletin Board as "PWTC", and trades on the Berlin Stock Exchange under the symbol of "PYB" Copyright (C) 1999 Business Wire. All rights reserved. -0- CONTACT: Power Technology Investor Information - USA: INVESTOR COMMUNICATIONS CO. 888/345-0434 or Investor Information - CANADA: SEEDS CAPITAL CORP. 800/245-2340 or 604/689-2992 WEB PAGE: businesswire.com GEOGRAPHY: NEVADA INTERNATIONAL CANADA EUROPE INDUSTRY CODE: ENERGY ENVIRONMENT GOVERNMENT Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. * end of story *