ZENN Motor Company
TSX VENTURE : ZNN

ZENN Motor Company

May 08, 2008 13:48 ET

ZENN Motor Company Files Preliminary Short-Form Prospectus for Offering of Common Shares

TORONTO, ONTARIO--(Marketwire - May 8, 2008) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO U.S. NEWS WIRE SERVICES

ZENN Motor Company Inc. (the "Corporation") (TSX VENTURE:ZNN) today announced that it has filed a preliminary short-form prospectus with the securities regulatory authorities in the provinces of British Columbia, Alberta and Ontario in connection with a best efforts equity financing. The offering will be led by Paradigm Capital Inc. Final pricing and determination of the number of common shares to be sold under the offering will occur immediately prior to the filing of the (final) short form prospectus in respect of the offering.

The Corporation expects to use the net proceeds from the Offering to fund working capital and for general corporate purposes.

Closing of the offering is subject to certain conditions, including but not limited to, receipt of all necessary securities regulatory approvals, including the approval of the TSX Venture Exchange.

This press release does not constitute an offer of the securities described herein in any jurisdiction. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state and may not be offered or sold in the United States absent an exemption from registration.

ABOUT ZENN MOTOR COMPANY

www.ZENNcars.com

Headquartered in Toronto, Canada, ZENN Motor Company is dedicated to being the global leader in producing zero emission transportation solutions for markets around the world. Our current ZENN car is the perfect vehicle for urban commuters, fleets (such as resorts, gated communities, airports, college and business campuses, municipalities, parks and more), the environmentally conscious driver, and consumers who just want to save money. The ZENN is a fully electric low speed vehicle (LSV) with European styling and appointments that offers customers tremendous operational cost savings compared to a vehicle powered by an internal combustion engine. The ZENN is sold through a growing network of retailers across the United States.

The potential commercialization of the ultra capacitor being developed by ZENN Motor Company's strategic partner, EEStor Inc., would enable future ZENN vehicles to travel at greater speeds and distances just like a conventional car but at a fraction of the cost. Moreover, ZENN electric vehicles don't emit harmful emissions or noise pollution and provide its owners the freedom to not worry about escalating gas prices.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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