Patriot Energy Corporation
PINK SHEETS : PGYC

Patriot Energy Corporation

May 11, 2009 12:00 ET

Patriot Energy Signs Multi-Year Distribution Agreement with Marmara Motorlu, a Deal Valued at $212 Million

MONTREAL, QUEBEC--(Marketwire - May 11, 2009) - Patriot Energy Corporation (PINKSHEETS:PGYC) signed a multi-year distribution agreement with Marmara Motorlu of the middle east; a deal valued at US$212 million.

According to the distribution agreement, Marmara Motorlu will guarantee the purchase of 125,000 units per year for a min. of 5 years and will transfer the carbon credits back to Patriot Energy Corporation.

"We are very enthusiastic with our recent progress in signing distributors to our product, our goal has always been to generate at least $1 billion in sales over the next 5 years, and this new agreement brings us closer to our goals", said Tony Bisante, President and CEO of Patriot Energy Corporation. "Our strong sales continue to add value to our company and further justify the price demanded in the recent stock purchase offer", further added Mr. Bisante.

Futher information can be found on Marmara Motorlu's website at www.marmaragcc.com

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