PALO ALTO, Calif., Dec. 3, 2012 /PRNewswire/ -- LifeTech Industries Inc. (OTC Bulletin Board: LTCH) in talks to close on exclusive distributorship agreements - sets strategic global distribution targets.
"The global water industry is currently at $400 billion per year and is expected to be $1 trillion by 2020 due to the decline of vital water sources," says Benjamin Chung, CEO and President of LifeTech Industries Inc. "LifeTech's technology is a perfect solution – one that will provide abundant quantities of drinking water to the world. Having the right plan of action will ensure that everyone, including our shareholders, will gain from our wonderful product."
The Company has carefully identified key sectors and regions to target in an effort to ultimately drive the greatest impact on the market. LifeTech is currently focused on negotiating exclusive wholesale distribution partnerships and licensing agreements in countries and industries that fit into this strategy.
The Company will announce key developments as they are finalized.
LifeTech's technology is scalable and can be developed to make customized units to service the water needs of a variety of industries such as:
- Shipping and boating;
- Hotels and resorts;
- Hospitals and schools;
- Mining and drilling;
- Government and military;
- Spas and "well-being" facilities;
- Humanitarian organizations
"It's critical to our strategy that we enter the right markets, at the right time, with the right approach," explained Chung. "With this market having so much potential, we must be selective in our partners so that we send the right message and foster the right reputation."
Mr. Benjamin Chung
CEO & President
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the successful operation of LifeTech's business.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the Company's recent current reports on Form 8-K, our annual report on Form 10-K, our quarterly reports on Form 10-Q, and other periodic and current reports filed from time to time with the Securities and Exchange Commission.
SOURCE LifeTech Industries Inc.