SOURCE: W Technologies, Inc.
HUNTINGTON BEACH, CA--(Marketwired - Apr 17, 2014) - W Technologies, Inc. (PINKSHEETS: WTCG) (www.wtechnologies.biz) announced today that it has entered into a Patent License Agreement with Smokefree Innotec, Inc., a developer and distributor of e-cigarettes. The Patent License Agreement grants to W Technologies a license for use of the patents owned by Smokefree Innotec for marketing of the Smokefree products.
George Roth, President of Smokefree Innotec, Inc., noted, "This licensing represents the first of a number of new planned moves to put the Smokefree products into distribution, following our inability to establish a long-term relationship with Denverson and subsequent configurations under design for alternatives, e. g. hemp-based nicotine delivery." Mr. Roth added, "The launch of the licensing with W Technologies is only our first step in teaming up with businesses that will be producing its own unique branding of the basic designs patented by Smokefree."
About W Technologies, Inc.
W Technologies, Inc. (www.wtechnologies.biz), whose stock is publicly traded under the symbol (PINKSHEETS: WTCG), is a diversified holding company with the mission to develop, manage and finance emerging companies. W Tech will be involved in the development of new social media and digital advertising technologies, on-line shopping and payment solutions, new environmentally-safe oil and gas recovery technologies, new clean water technologies, financial services involving residential and commercial real estate and other emerging markets. The Company expects to bring a paradigm shift in the use of these new technologies in the respective business sectors and to develop new methods to finance its affiliated companies. Through its subsidiaries and affiliates with their experienced personnel, W Tech will seek to grow through acquisitions, joint marketing arrangements and organic growth in emerging markets.
About Smokefree Innotec, Inc.
Smokefree Innotec, Inc. (PINKSHEETS: SFIO), is in the business of designing, developing, manufacturing and distributing under license various brands of hi-tech, nicotine and non-nicotine cigarette-like delivery devices that are either completely smoke and vapor-free and tobacco-free, or alternatively emit vapor.
Precautionary and Forward-Looking Statements
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude or risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company's disclosures or filings with OTC Markets, Inc. You are further cautioned that stocks of smaller companies like W Technologies, Inc. are inherently volatile and risky and that no investor should buy this stock unless they can afford the loss of their entire investment.