Have you seen this??????/
NW Tech Capital, Inc. Announces New Joint Venture for China Drug Store Distribution Center and Continued Telecom Revenues
Thursday October 9, 2008 9:45 am ET
VANCOUVER, WA and PORTLAND, OR--(MARKET WIRE)--Oct 9, 2008 -- NW Tech Capital, Inc. (OTC BB:NWTT.OB - News) announced today that it was forming a new Joint Venture between its Hong Kong Subsidiary NW Tech Capital Hong Kong (NWTTHK) with Zhuhai Jialun Guangcai Chain Drugstore Co., Ltd. ("ZJG Drugstores") as a profit center to develop new distribution centers for ZJG Drugstores. This modifies a previous announcement on August 19, 2008 that the ZDG Drugstores would become a subsidiary.
James Wheeler, President and CEO of NWTT stated, "The new Joint Venture with ZJG Drugstores gives us a better platform to introduce NWTTHK into the China Market and uses our knowledge of the US Public market and capital market to form this Joint Venture. It will eliminate a highly expensive and time consuming audit of over 400 drugstores and will allow NWTTHK and ZJG Drugstores to work together to develop new distribution centers throughout China. NWTT is currently working with a funding group interested in financing the Joint Venture of the distribution centers. ZJG management will operate these centers and distribute their products as well as other products throughout China. This allows both companies to stay with what they know best."
Wheeler states: "NWTT will stay focused on its subsidiary Teledigit, Inc. and will continue to build upon its revenue stream from Teledigit here in the United States. We will have the Teledigit financial report for the 3rd quarter completed within 30 days. Revenues continue to improve and we look forward to expanding our position in the Technology field."
About ZJG Drugstores
The ZJG Drugstores supply over 2000 chain drugstores in Guangdong Province in the cities of Zhuhai, Zhongshan, Fuschan, and Dongguan with over 700 internally manufactured products.
