LAS VEGAS, Oct. 1, 2003 (PRIMEZONE) -- Whistler Investments, Inc. (OTCBB:WHSL) announced today that a group of its top technology executives, as well as several other key partners, are meeting in Delhi, India with Hero Cycles and Hero Motors.
Negotiations are taking place over the course of a 10-day trip, pursuant to a letter of intent signed by Hero corp. and Nudge. The negotiations will cover a wide array of joint venture propositions including, but not limited to, a sizable partnership with Hero Cycles via the incorporation of NuPow'r electric propulsion technologies.
The main focus will be the incorporation of NuPow'r electric propulsion systems in mopeds, cycles and three wheeled vehicles produced by Hero Corporation. Hero is the largest producer of cycles in the world and is on the cutting edge of small engine vehicle production.
Holly Roseberry, President of Whistler commented, "At this time we are anticipating a strong commitment between the two corporations. The marriage of our technology, coupled with the massive market for Hero cycles, creates a superlative joint venture scenario."
Whistler has entered into an agreement to acquire from NuAge Electric 100% licensing rights, subject to a 20% royalty, to develop, manufacture and market two and three wheeled vehicles, and first right of refusal for all technology developed by NuPow'r.
About Hero
Hero (www.herocycles.com), a name synonymous with two wheelers In India and the largest manufacture of bicycles (as listed in the Guinness Book of World Records), is today a multi-unit, multi product, geographically diversified group of companies with alliances with major companies in Europe, North America and Asia, including Honda in Japan.
About Whistler
Whistler has entered into an agreement to acquire, from NuAge Electric, 100% licensing rights, subject to a 20% royalty, to develop, manufacture and market two and three wheeled vehicles, and first right of refusal for all technology developed by NuPow'r, "Changing the way the world moves". This patented technology has allowed the team to test a new age electrical sports car at speeds of 125 mph for over 250 miles.
With the patented recharging system the car is ready for use in the time it takes to eat lunch, 10 times shorter than anything on the market today. Essentially, this Power System cuts the weight of battery packs by up to 75%, doubles or triples the range and speed of those electrical vehicles, and cuts the recharge time by 75%.
Our new product line already presents an extremely attractive alternative for a multitude of applications, not only in North America but also in Europe and South East Asia. Golf carts with a 100 mile range and on road speeds of up to 50 mph, Go-Carts, up to 85 mph, E-bikes and scooters and many others too numerous to list.
For a complete listing of the applications and design of this technology, please visit our web site at www.nuageelectric.net
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. Whistler Investments, Inc.