Natco International Inc.
OTC Bulletin Board : NCII

March 19, 2007 15:41 ET

Natco Executes Binding RTO Agreement With Photo Violation Technologies Corp.

SURREY, BRITISH COLUMBIA--(CCNMatthews - March 19, 2007) - Mr. Raj-Mohinder Gurm, President of Natco International Inc. (OTCBB:NCII), announces that the formal reverse take-over agreement with Photo Violation Technologies Corp. ("PVT") has been executed. The shareholders of PVT will exchange their shares for Natco shares. All existing stock option agreements will be cancelled. The existing Board of Directors and corporate officers will resign to be replaced by new Directors and officers mutually agreed to by PVT and Natco. After the new shares have been issued the shareholders of PVT will hold 85% of the increased equity with the existing shareholders of Natco holding 15%.

PVT, with subsidiaries in Europe and Asia, has developed a patented, technologically innovative parking meter system - the PhotoViolationMeter™. This user friendly high tech meter will generate significantly more revenue than current parking meters through greatly improved compliance and zero double usage of time. The PhotoViolationMeter™ has already advanced to field trials and is being tested at the University of British Columbia Endowment Lands and has just completed a trial at the Port of San Francisco. The City of Niagara Falls, NY and others have requested larger trials.

PVT has successfully forged relationships with Fortune 500 companies and global suppliers such as IBM, Cisco, Honeywell, and Motorola and is working with these partners to develop the world's most sophisticated parking system. One of these companies has also agreed to come on board under the terms of a North America-wide service agreement.

Forward-Looking Statements

This press release contains certain statements that may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding Natco's business strategy, plans and objective and statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes", "expects", "intends" or similar expressions, involve known and unknown risks and uncertainties. Although Natco believes that the expectations reflected in these forward-looking statements are reasonable, they may prove to be incorrect and do involve assumptions, risks and uncertainties. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Natco's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Natco's periodic reports that are filed with and available from the Securities and Exchange Commission. All forward-looking statements attributable to Natco or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, Natco does not assume a duty to update these forward-looking statements.

Contact Information

  • Natco International Inc.
    Raj Gurm
    (604) 507-6657