SOURCE: Tricon Development Inc.

January 18, 2013 13:56 ET

Tricon Development Is Pleased to Announce an Agreement Between Itself and Manual Protective Covers to Cease and Desist From Slander and Libel Against the Company

BROOKLYN, NY--(Marketwire - Jan 18, 2013) - Mr. Raphael Weiss from Tricon Development Inc. (TDI) is pleased to announce an agreement, between Manual Protective Covers and Tricon Development Inc.

Manual Protective Covers will refrain from any further public statements or reports, due to its rejection by Tricon for funding. The sole product made by Manual Protective Covers is an automated car cover that ejects from the rear of the vehicle which then covers the car within a period of 30-60 seconds. At the time of rejection, Manual Protective Covers had no sales orders and no visible assets for collateral. Tricon rejected their request for $5 million to avoid cutoff by their Chinese manufacturer. False and misleading information was then disseminated by Manual Protective Covers online and on various forums.

The agreement between Tricon Development Inc. and Manual Protective Covers is being finalized, will be submitted to the board of Tricon Development Inc. for ratification, acceptance and recordation. At this point, no further action, on the part of Tricon Development Inc., will be taken against Manual Protective Covers and this matter is considered closed.

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