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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge -- Ignore unavailable to you. Want to Upgrade?

To: Al Collard who wrote (1448)	3/29/2001 1:06:07 AM
From: Nick Morvay	Respond to of 11802

APK news: Altek secures rights to sell Innovator Genset Altek Power Corporation APK Shares issued 25,894,960 Mar 27 close $0.38 Wed 28 Mar 2001 News Release Mr. Dale Peterson reports Altek Power's U.S. subsidiary, Altek Power Corp., a Nevada corporation, (Altek Nevada) has entered into an agreement with AEP Gas Power Systems, LLC (AEP) of Columbus, Ohio, which gives Altek Nevada the exclusive right to purchase and sell AEP's 1.2-megawatt Innovator Genset in Saskatchewan, Alberta and British Columbia to commercial and industrial customers who have headquarters and operations based therein. The term of the contract is initially for two years and is subject to certain benchmarks for sales during that time. The agreement further provides a mechanism for its renewal after the initial two-year term. AEP Gas Power Systems, LLC is, in part, owned by American Electric Power of Columbus, Ohio, which trades on the New York Stock Exchange under trading symbol AEP. American Electric Power is one of the largest producers of electricity in the United States having worldwide electrical generation of over 38,000 megawatts and assets of more than $35-billion. Altek views the Innovator Genset as one of the best-packaged gensets available in the market place today. The Innovator's ease of installation and its competitive pricing certainly makes it Altek's choice for future projects where the size of the project demands the use of this range of electrical generation equipment. Altek is also confident that as the marketplace becomes more familiar with benefits of installing an Innovator Genset that it will become the equipment of choice for others as well which in turn will add to Altek's revenue base. The agreement provides Altek with an edge on the competition with respect to the bidding of projects, makes smaller projects for Altek more feasible financially and provides Altek with an opportunity to diversify its revenues by creating third party sales, which arise from an environment that Altek personnel are currently working in. (c) Copyright 2001 Canjex Publishing Ltd. stockwatch.com