LAS VEGAS, Feb. 24, 2004 (PRIMEZONE) -- Whistler Investments, Inc. (OTCBB:WHSL), Whistler's Global Electric division, an emerging leader in the development and marketing of lithium ion vehicles and lithium ion powered products worldwide, announced today the receipt of $1 million dollars of a $3 million dollar non-recourse loan to be collateralized by stock.
The funding is part of a multi-stage financing package designed to provide the Global Electric division with the funds required to develop specific products for the U.S. Navy, Powerski (www.powerski.com), Solar House and for the marketing of the highly anticipated R car.
Holly Roseberry, President of Whistler stated "As we are in the fortunate position of having a highly desirable technology coupled with the recently announced $10 million line of equity financing, for which Whistler intends to file a registration statement in the near future, and this $3 million dollar financing, Global Electric is able to dramatically accelerate our timelines for our cutting edge technology to be applied to projects such as the U.S. Navy and Poweski."
About Whistler (Global Electric) www.globalelectric.com
Whistler Investments Inc. (OTCBB:WHSL) is an emerging leader in the development and marketing of lithium ion vehicles and lithium ion powered products worldwide.
Forward Looking Statement
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.