SOURCE: Dakshidin Corporation

July 12, 2007 10:26 ET

Dakshidin Corporation Finalizes Significant Acquisition in China

LAS VEGAS, NV--(Marketwire - July 12, 2007) - Dakshidin Corporation (PINKSHEETS: DKSC) is pleased to announce that it has finalized the purchase agreement with Kensam Echo-Tech Services Co. Ltd. (Kensam) in the province of Yunnan and acquired the controlling interest of this firm.

Kensam has been operating in China for the past seven years in the Economic and Technical Services area within the Energy and Mineral sectors.

Kensam is now in the first stage of developing and manufacturing two electric windmill types -- one being a 30kw low wind speed model and the other a 250kw modified Darius style. This Darius style windmill is anticipated to be as much as 25% more efficient than the current wind turbines in use today. Restec/Kensam has committed a significant percentage of production to an undisclosed company to develop a new 40-mega watt wind farm in China.

Dakshidin Corporation has also been granted the first right of refusal to joint venture in the wind farm development and share in the ongoing revenue stream from these projects. The initial number of windmills that will be required is anticipated to be in excess of one thousand units. The wind farm electricity purchase rate has already been negotiated with the Chinese Government.

Kensam will facilitate the marketing and development of the Restec Mark 10 water-pumping windmill and shall commit to initially purchase twenty windmills from our licensed manufacturer for resale within the Chinese and Asian markets. The Restec Mark 10 has the ability to draw water at a greater rate than any other windmill in lower wind speeds as well as provide purified drinking water. The Restec Mark 11 windmill will be able to generate electricity. This "Triple Play" will result in Restec International Inc. becoming a leader in providing the world's arid regions with a "Total Solution" for their water problems.

Nick Laroche, President and CEO of Dakshidin Corporation, states, "The acquisition of Kensam has positioned Dakshidin to firmly establish itself in the markets already identified for the sales of Restec's product line within China and several other Asian countries."

Dakshidin Corporation is focusing primarily on acquiring companies in the renewable and sustainable energy markets and welcomes all companies to send us their business plans for evaluation and possible purchase.

In compliance with the "safe harbour" provisions of the Private Securities Litigation Reform Act of 1995, DKSC notes that statements contained in this announcement that are not historical facts may be forward-looking statements that are subject to a variety of risks and uncertainties. Accordingly, DKSC wishes to caution readers of this announcement that its future actual results may differ materially from those that any forward-looking statements may imply. There is no assurance the above-described events will be completed. There can be no assurance of the ability of the company to achieve sales goals, obtain contracts or financing, consummate acquisitions or achieve profitability in the future. The above and additional factors are discussed in detail in the company's filings with the U.S. Securities and Exchange Commission. These may be viewed at www.sec.gov and many other Web sites without charge.

Contact Information

  • For Investor Relations contact:
    David Putnam
    email: ir@dakshidin.com
    (647) 477-8440