Oct. 18, 2010 (Filing Services Canada) — Zentric, Inc. (ZNTR – OTCBB),
Mr. Jeff Mak, President and Chief Executive Officer of Zentric, Inc. announced today the signing of a Joint Venture agreement to build and operate a battery manufacturing plant in Jilin Province, China.
Zentric will own 70% of the new Joint Venture corporation and our China based partner will own 30%. Our partners will contribute approximately 7.4 acres of land in Jilin, China and have agreed to participate in the construction and operation of the plant.
Details outlining this joint venture will be filed via form 8-K with the Securities and Exchange Commission.
Mr. Mak commented; “Zentric is pleased to announce this milestone Joint Venture agreement with our experienced and capable China-based partner. We look forward to informing shareholders about other important corporate developments in the very near future.”
Investors and other interested parties are invited to contact the company for further information and visit the company website; www.zntr.com.
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.
Contact for Zentric, Inc:
Jeff Mak
416-245-8000
info@zntr.com
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Source: Filing Services Canada (October 18, 2010 – 11:01 AM EDT)
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