SOURCE: NW Tech Capital, Inc.

October 09, 2008 09:45 ET

NW Tech Capital, Inc. Announces New Joint Venture for China Drug Store Distribution Center and Continued Telecom Revenues

VANCOUVER, WA and PORTLAND, OR--(Marketwire - October 9, 2008) - NW Tech Capital, Inc. (OTCBB: NWTT) announced today that it was forming a new Joint Venture between its Hong Kong Subsidiary NW Tech Capital Hong Kong (NWTTHK) with Zhuhai Jialun Guangcai Chain Drugstore Co., Ltd. ("ZJG Drugstores") as a profit center to develop new distribution centers for ZJG Drugstores. This modifies a previous announcement on August 19, 2008 that the ZDG Drugstores would become a subsidiary.

James Wheeler, President and CEO of NWTT stated, "The new Joint Venture with ZJG Drugstores gives us a better platform to introduce NWTTHK into the China Market and uses our knowledge of the US Public market and capital market to form this Joint Venture. It will eliminate a highly expensive and time consuming audit of over 400 drugstores and will allow NWTTHK and ZJG Drugstores to work together to develop new distribution centers throughout China. NWTT is currently working with a funding group interested in financing the Joint Venture of the distribution centers. ZJG management will operate these centers and distribute their products as well as other products throughout China. This allows both companies to stay with what they know best."

Wheeler states: "NWTT will stay focused on its subsidiary Teledigit, Inc. and will continue to build upon its revenue stream from Teledigit here in the United States. We will have the Teledigit financial report for the 3rd quarter completed within 30 days. Revenues continue to improve and we look forward to expanding our position in the Technology field."

About ZJG Drugstores

The ZJG Drugstores supply over 2000 chain drugstores in Guangdong Province in the cities of Zhuhai, Zhongshan, Fuschan, and Dongguan with over 700 internally manufactured products. Additional information regarding the ZJD Drugstores is available at http://www.gzhuang.cn/zhuhai/e_index.asp.

About Teledigit, Inc.

Teledigit, Inc. operates a Data & Telecommunications Company in the Pacific Northwest. Established in 1995, Teledigit, Inc. bases its operations out of Portland, Oregon serving customers throughout the United States.

About NW TECH CAPITAL, INC.

NW Tech trades on the OTC Bulletin Board under the ticker symbol "NWTT." For more information on NW Tech Capital or TeleDigit contact investor@nwtechcapital.com or visit web site at www.teledigitinc.com.

Certain Information

Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of NWTT officials are "Forward-Looking Statements": within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Certain statements in this news release may contain forward-looking information and are based on Management's current expectations, estimates and projections subject to change. Words such as "anticipates," "expects," "intends," "plans," "targets," "projects," "believes," "seeks," "estimates" and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. You should not place undue reliance on these forward-looking statements. Unless legally required, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. The Company disclaims any information that is created or distributed by any outside party and endorses only information that is communicated by its official Press Releases.

Contact Information

  • Contact Information:
    NW Tech Capital, Inc.
    Vancouver, WA
    James Wheeler
    Chairman & CEO
    E-mail: Email Contact