China Keli Electric Company Ltd.
TSX VENTURE : ZKL

April 12, 2011 09:01 ET

China Keli Signs Significant Sales Contract

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 12, 2011) - China Keli Electric Company Ltd. (TSX VENTURE:ZKL) ("China Keli" or the "Company") is pleased to announce it has signed a significant sales agreement with Guo Ao Electric Technology Company based in Jiangsu Province. This contract worth RMB 3,025,800 (approximately CAD$450,000) calls for the supply of twelve (12) start devices for 10kV Air Compressors. The compressors will be used as part of the infrastructure facilities for a new $5 Billion FOXCONN factory being built in Chengdu which will eventually employ 100,000 people.

"We're pleased that one of our products has been selected by such a well-known company," said Lou Meng Cheong, China Keli's CEO. "Although we're sure this isn't the biggest order we will see in the next few months, it's always nice to secure an order for nearly half a million dollars."

"We're very confident that we'll see some meaningful rewards for the sales and marketing effort in which we've invested over the last few months."

About China Keli Electric Company Ltd.

China Keli is a hi-tech company that develops, manufactures and installs hi-voltage electrical components and equipment, including preassembled mini-substations, electrical controllers, pressurized/vacuumed switchgears and circuit breakers in the People's Republic of China. China Keli's markets include electrical transmission and distribution systems, Smart Grid, and the transportation sector (railways, subways, street lighting, etc.).

ON BEHALF OF THE BOARD OF DIRECTORS

Mr. Lou Meng Cheong, CEO

Legal Notice Regarding Forward Looking Statements: Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding the Company's ability to close the Offering. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future, and in this news release include: (i) the Company will be able to supply twelve (12) start devices for 10kV Air Compressors to Guo An Electronic Technology Company; and (ii) the compressors will be used as part of the infrastructure facilities for a new $5 Billion Foxconn factory in Chengdu, China. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect, wholly or partially. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) the inability to deliver the twelve (12) start devices for 10kV Air Compressors on the terms set out above or at all, and (2) a downturn in general economic conditions in China or internationally. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the "Risks and Uncertainties" section in the Company's MD&A filed with Canadian securities regulators.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.

Contact Information

  • Brisco Capital Partners
    Scott Koyich
    President
    (403) 262-9888
    skoyich@briscocapital.com

    EVP Finance and Corporate Development
    Michael Raymont
    (403) 389-3488
    mraymont@zkl.com

    China Keli Electric Company Ltd.
    Mr. Lou Meng Cheong
    CEO
    (604) 270-2345