SOURCE: Ronn Motor Company

Ronn Motor Company

January 05, 2010 09:00 ET

Ronn Motor Company Reaches Exclusive Distribution Agreement for the Scorpion HX™ Eco-Exotic Supercar

MARBLE FALLS, TX--(Marketwire - January 5, 2010) - Ronn Motor Company, Inc. (PINKSHEETS: RNNM) announced today that they have concluded negotiations and reached an exclusive arrangement with a newly formed subsidiary of Angeltouch Petroleum & Refining, Inc. to distribute the Scorpion HX™ eco-exotic supercar.

Under the terms of this arrangement, the Angeltouch subsidiary will have exclusive rights to distribute and sell the Scorpion HX™ eco-exotic supercar in the states of Georgia and Florida. As well, upon the commencement of full scale production, Angeltouch will be provided non-exclusive rights to distribute and sell the Scorpion HX™ in the Caribbean, Central American and South American markets. This arrangement comes right on the heels of an equity funding agreement with a consortium led by Angeltouch Petroleum & Refining, Inc., completed in December 2009, to provide Ronn Motors with up to $6 Million to increase company liquidity and support the company's marketing and sales efforts.

Brian A. Dupree, CEO of Angeltouch Petroleum & Refining, Inc., said, "We are excited about the prospect of distributing the Scorpion HX™ supercar and bringing a unique product to a dynamic market we know well. Even though Florida and Georgia have been hit very hard by the economic downturn, there are still markets and demographics within those areas that can support an explosive growth for the Scorpion HX™. We believe that the combination of the car's unique modern design, coupled with its high mileage per gallon and low impact on the environment, will result in very strong sales of the supercar in these areas. The car can achieve 200 MPH and do it with a fuel rating of 40 MPG. Ronn Motor Company is leading a revolution in automotive design and functionality by building beautiful cars that are powerful, fun to drive, get great gas mileage, generate near zero noxious emissions and have very economical operating costs. They are also showing the world that America still has what it takes to build a world class supercar. Ronn Maxwell has given us great support in establishing this venture and we see, not only superior returns on our investments over the long-term, but also a tremendous long term relationship with one of America's premier exotic automotive designers and manufacturers."

Angeltouch's new automotive distribution subsidiary will wholesale and directly retail market the new automobile in the major metropolitan cities within its new exclusive territory. It is projected that the company will start a major push for the first production units within the Miami and Fort Lauderdale, Florida and Atlanta, Georgia metro areas with quick expansions into Palm Beach, Naples, and Orlando, Florida thereafter. The initial sales are expected to be customized orders that completely personalize the vehicle to the tastes and preferences of the new owner.

Ronn Maxwell, CEO of Ronn Motors, stated, "We now have a significant financial commitment in place from Angeltouch and our manufacturing facility is being renovated, outfitted and made ready for occupancy in late January. We feel the time is right to begin offering distributorships to qualified entities. Angeltouch has demonstrated their commitment to Ronn Motors and has been instrumental in allowing us to move our operations forward with their ongoing funding commitments. Brian Dupree has repeatedly expressed his enthusiasm about the Scorpion HX™ supercar and his strong belief that Angeltouch is the right partner for the Florida and Georgia markets. We believe we have found a financially strong, knowledgeable and aggressive partner in Angeltouch and that they are the right partner for these valuable markets."

Headquartered in Marble Falls, Texas, Ronn Motor Company, Inc. is a design and manufacturing company focused on the leading edge engineering of environmentally friendly, finely built premium automobiles and "green," eco-responsible technology. These technology systems include Hydrogen Fuel, Fuel Cells, and Plug-in Electrics and will be incorporated into our automobiles to be made available for aftermarket applications. Our products, coupled with RMC's core values of a strong sense of ethics, environmental sensitivity and premium quality, position the company as one of the new leaders in an automotive industry transitioning toward fuel efficiency. For more information, please visit

Angeltouch Petroleum & Refining, Inc., based in Stockbridge, Georgia, is a private crude and refined petroleum product reseller and an emerging company in the charge for financing and developing alternative energy products and projects. The company's private capital unit researches alternative energy projects and structures investments therein by using its own private capital and coordinating the application of other project financing resources. Angeltouch is an aggressive energy company that is dedicated to promoting and making investments in alternative energy projects.

This release contains forward-looking statements that reflect Ronn Motors plans and expectations. In this press release and related comments by Company management, words like "expect," "anticipate," "estimate," "forecast," "objective," "plan," "goal" and similar expressions are used to identify forward-looking statements, representing management's current judgment and expectations about possible future events. Management believes these forward-looking statements and the judgments upon which they are based to be reasonable, but they are not guarantees of future performance and involve numerous known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements.

Contact Information

  • Ronn Motors Investor Relations Contact:
    The Eversull Group, Inc.
    Jack Eversull
    972-378-7917 or 972-571-1624
    Email Contact