SOURCE: Worldwide Energy and Manufacturing USA, Inc.

June 24, 2008 09:30 ET

Worldwide Energy and Manufacturing Receives $4,747,970 in Funding

SOUTH SAN FRANCISCO, CA and SHANGHAI, CHINA--(Marketwire - June 24, 2008) - Worldwide Energy and Manufacturing USA, Inc. (OTCBB: WEMU), a U.S.-based China manufacturing company for customers in the industries of aerospace, wireless telecommunications, medical equipment, automobiles and solar energy, is pleased to announce that on June 23, 2008 Worldwide Energy and Manufacturing USA, Inc. (the "Company") received subscriptions for the sale of an aggregate of $4,747,970.50 or 1,055,103 shares of common stock (the "Shares"). Concurrently with the issuance of the Shares, the Company also issued an aggregate of 685,817 Series A Warrants of the Company (the "Series A Warrants") and an aggregate of 369,286 Series B Warrants of the Company (the "Series B Warrant"). The Series A Warrants are exercisable for a period of 24 months from closing at an exercise price of $7.00 per share. The Series B Warrants are exercisable for a period of 36 months from the closing at an exercise price of $9.00 per share. The Series A and Series B Warrants provide the investors with full ratchet anti-dilution protection with relation to the exercise price of the warrant for a period of 18 months from the closing. RedChip Capital LLC and RedChip Securities Inc. were the placement agents for the capital raise.

Mr. Jimmy Wang, CEO of Worldwide, stated, "We will use these funds to complete our De Chuang factory acquisition, to expand our energy division and due a further acquisition. In addition, these funds will grow the company to new records for growth and profitability."

About Worldwide Energy and Manufacturing USA, Inc.

Worldwide Energy and Manufacturing USA, Inc. ("Worldwide"), headquartered in South San Francisco, is a 14-year-old engineering-oriented firm specializing in international manufacturing for solar modules, electronics, mechanical and fiber optic products. Worldwide is also a direct manufacturer of die-casting and electronics components. The company's worldwide customer base includes the industries of solar energy, wireless telecommunications, aerospace, automobiles and medical equipment. Worldwide also manufactures components for the following industries: instrumentation, machinery, tools, home electrical solutions and electronic parts (such as electronic toys) and energy. Subsidiaries include Shanghai Intech Electro Mechanical Products Co. Ltd., Shanghai Intech Electronics Manufacturing Co. Ltd. and Shanghai Intech Precision Mechanical Products Manufacturing Co. Ltd., located in Shanghai, China.

For further information on Worldwide Energy and Manufacturing USA, Inc., please visit You may register to receive Worldwide Energy and Manufacturing USA, Inc.'s future press releases or request to be added to the Company's distribution list by contacting John Ballard.

Forward-Looking statements:

The above news release contains forward-looking statements. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances, and are subject to a wide range of business risks, external factors and uncertainties. Actual results may differ materially from those indicated by such forward-looking statements. The Company assumes no obligation to update the information contained in this press release, whether as a result of new information, future events, or otherwise.

Contact Information