ETIG -MacGregor Energy- Receives Distribution Commitment from Tradenet International
PHOENIX, Dec 16, 2004 (BUSINESS WIRE) -- El Tigre Development (Pink Sheets:ETIG) (soon to be MacGregor Energy Inc.) announced today the signing of an agreement with Tradenet International for distribution rights for El Tigre's products throughout the following Middle East countries: Lebanon, Jordan, Sudan, Morocco, Tunis.
Ralph Sayad of Tradenet explained, "I am really thrilled about representing MacGregor Energy for the Middle East. This technology that produces electricity using a patented low impact hydro device can really be of great help to many of the countries in the Middle East, especially with the absence of any generation of power in certain remote areas. And what is the most exciting is the fact that it uses volume and pressure from water, air or gas such as city water mains, industrial pipelines, and other available yet wasted flow sources."
El Tigre's CEO Bob Schneiderman says, "We are very excited by this agreement with Tradenet in Lebanon due to Tradenet's footprint providing numerous locations for installation of our technologies. This agreement also marks the first of many international agreements we are currently negotiating."
El Tigre Development is engaged in research, development and commercialization of technologies for the production of alternative sources of fuel and the destruction and/or remediation of liquid and solid waste. The goal is to establish the Company as a major alternative energy source and leading commercial provider of environmental solutions.
Tradenet International is a trading company established in Beirut, Lebanon in 1994 specializing in global markets, with specific expertise in new technology applications, procurement, finance and international trade. Our expertise, combined with our extensive global network of contacts and associates enable us to identify opportunities for value enhancement across a wide range of geographic areas and business sectors.
Forward-Looking Statements: This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors. The actual results that the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. The company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances arising after the date of this release.
SOURCE: El Tigre Development
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