SOURCE: McKenzie Bay

January 18, 2008 17:06 ET

McKenzie Bay International, Ltd.'s (MKBY) Subsidiary Would Work With MTI Energy Management/Lighting Specialists to Complete Ishpeming Project

DETROIT, MI--(Marketwire - January 18, 2008) - McKenzie Bay International Ltd.'s (PINKSHEETS: MKBY) subsidiary, WindStor Power Co., has advised MTI Energy Management/Lighting Specialists of Brighton, MI. that it would work with MTI to complete WindStor's Pioneer Bluff project in Ishpeming, MI.

With the consent of the parties, the court has temporarily stayed the litigation brought by MTI against McKenzie Bay and WindStor while the parties continue to work toward completion of the Ishpeming Project. While there is no assurance a settlement can be reached, the parties are hopeful a resolution will be reached shortly.

Neither WindStor nor McKenzie Bay has the capital to continue the Ishpeming Project. While MTI has assured McKenzie Bay and WindStor that MTI has arranged sufficient capital to complete the Project, McKenzie Bay and WindStor have not independently verified the sufficiency or availability of such capital.

For further information about this release contact Investor Relations, Rich Kaiser, YES INTERNATIONAL, 757-306-6090.

Certain statements made in this press release constitute forward-looking statements and do not guarantee future performance. Actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based solely on the estimates and opinions of management at the time the statements are made.

Contact Information

  • For further information contact:
    Investor Relations
    Rich Kaiser
    YES INTERNATIONAL
    757-306-6090