Patriot Energy Corporation
PINK SHEETS : PGYC

Patriot Energy Corporation

April 22, 2009 09:51 ET

Patriot Energy Moves to an LOI With Toshent Overseas

MONTREAL, QUEBEC--(Marketwire - April 22, 2009) - Patriot Energy Corporation (PINKSHEETS:PGYC) announced today that they have signed a letter of intent with Toshent Overseas for the purchase and distribution of the H2O Injectors.

According to the LOI, Toshent Overseas will purchase and distribute the H2O device in the Russian marketplace and Eurasia on a non-exclusive but preferential basis. The companies have now set the number of device to be delivered to 12,500 units per month minimum (150,000 per year) as oppose to the previously mentioned 100,000 yearly units. The company expects to receive a purchase order on or before April 29, 2009.

This potential order consolidated with the previous order from TI Innovation, would represents total revenues in excess of $340 million over the next 5 years.

About Patriot Energy Corporation

Patriot Energy Corp. is a management holding corporation, which owns a wholly owned subsidiary named TelTeck Solutions and owns a 99 year exclusive leased license agreement with Tectane Technologies Corporation for the Dual H2O Engine Oxygenator and New Tri-Brid Engine (Electric/Flex-Fuels/H2O) Technologies. Patriot Energy specializes in the development and marketing of energy efficient technologies with a focus on reducing America's dependence on Foreign Oil.

All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.

A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.

Contact Information

  • Momentum IR
    Max Gagne
    514-913-0351
    877-253-7001