Feb. 23, 2010 (Filing Services Canada) — Zentric, Inc. (ZNTR – OTCBB), an advanced battery technology company, today issued the following update to its shareholders.
The Company has set up a new office location in Mississauga, Ontario, Canada to act as the head office of the Company. The new location offers space for more personnel for management and administration.
There are continued Research and Development efforts by the team at the University of Hong Kong to produce product designs and prototypes. The team is currently designing car batteries and different configurations of storage batteries. The Company believes these product designs will be best suited for the technology and best suited to position the company to capture market share.
The Company is in talks with select battery manufacturers located in mainland China as potential acquisition targets or joint partners. There has been on site plant visits and on going due diligence on these manufacturers. The Company’s business plan incorporates a mergers and acquisition strategy to take advantage of the production and testing facilities and the marketing and distribution channels. Zentric battery designs are similar to the lead-acid battery technology and existing production lines can be modified to incorporate these new designs. These manufacturers range in revenues from 8 to over 30 million USD annually.
About Zentric, Inc.
Zentric, Inc. is an advanced battery technology company based on a new and revolutionary battery technology to incorporate high voltage dual electrolytes to produce higher voltages and power. The technology was development in the laboratories of the University of Hong Kong for over 10 years.
Please visit our website at: http://www.zntr.com/
This news release contains forward looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the failure to meet schedule or performance requirements of the Company’s contracts, the Company’s liquidity position, the Company’s ability to obtain new contracts, the emergence of competitors with greater financial resources, and the impact of competitive pricing. In the light of these uncertainties the forward-looking events referred to in this release might not occur.
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Source: Filing Services Canada (February 23, 2010 – 8:02 AM EST)
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