Patriot Energy Corporation
PINK SHEETS : PGYC

Patriot Energy Corporation

April 21, 2009 09:30 ET

Patriot Energy Signs Memorandum of Understanding With Toshent Overseas

MONTREAL, QUEBEC--(Marketwire - April 21, 2009) - Patriot Energy Corporation (PINKSHEETS:PGYC) announced today that they have signed a memorandum of understanding with Toshent Overseas for the purchase and distribution of 100,000 yearly H2O Injectors.

According to the MOU, Toshent Overseas will purchase and distribute the H2O device in the Russian marketplace and Eurasia on a non-exclusive but preferential basis. The companies are currently negotiating the final numbers and delivery and intend to move to a Letter of Intent and or agreement within the next 10 days. In the event this distribution agreement is concluded, it would be a transaction valued at over $170 million over the next 5 years

"These negotiations and new potential large order is a continued proof of the significance of our technologies and its market acceptance." Said Mr. Tony Bisante, President of Patriot Energy Corp. "Not only it solidifies our current purchase offer transaction, it can truly propel our company to the next level" further added Bisante.

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