SOURCE: HPIL Holding

November 07, 2014 08:52 ET

HPIL Holding Announces Cooperation Agreement by HPIL ENERGYTECH Inc. With TrueSkill Energen Pvt. Ltd.

SAGINAW, MI--(Marketwired - Nov 7, 2014) -  HPIL Holding (the "Company" or "HPIL") (OTCQB: HPIL) is pleased to announce that its wholly owned subsidiary HPIL ENERGYTECH Inc., on October 30, 2014, entered into a Cooperation Agreement (the "Agreement") with TrueSkill Energen Pvt. Ltd., a private limited company focused on marketing renewable energy products and solutions. Under the Agreement, the parties intend to work cooperatively to develop and expand projects between the parties beginning on October 30, 2014. The term of the Agreement is three years unless terminated earlier by either party. For more information regarding HPIL Holding, please visit its website at www.hpilholding.com. For more information regarding HPIL ENERGYTECH Inc., please visit its website at www.hpilenergytech.com. For more information regarding TrueSkill Energen Pvt. Ltd., please visit its website at www.energen.biz.

Mr. Nitin Amersey, the Director, CFO, Treasurer and Corporate Secretary of HPIL Holding, currently serves as the Chairman of the Board of Directors of TrueSkill Energen Pvt. Ltd.

The parties began working together under a similar agreement in December of 2012 and continued to work together without an agreement in place following the expiration of that agreement in December of 2013.

Louis Bertoli, President & CEO of HPIL Holding, said he was "very pleased to be working closely with TrueSkill Energen Pvt. Ltd. for the Indian market and believe it has significant potential." 

Uday Kumar, CEO of TrueSkill Energen Pvt. Ltd, said he was "very pleased to be working closely with HPIL Holding through HPIL's wholly owned subsidiary HPIL ENERGYTECH Inc."

Safe Harbor:
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when used in the preceding discussion, the words "pleased," "plan," "confident that," "believe," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the Company's products and technologies, competitive factors, the ability to successfully complete additional financings and other risks described in the Company's SEC reports and filings.

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