PALO ALTO, Calif., Dec. 5, 2012 /PRNewswire/ — LifeTech Industries, Inc. (OTCBB: LTCH) – a Company that provides innovative water solutions – has signed an exclusive ten-country distribution agreement with SunPlex Limited.
Millions in Africa, mostly children, die annually from preventable water and sanitation related diseases. In an effort to provide a solution to this crisis, LifeTech and SunPlex have agreed to a 5 year distribution plan which involves targeting medical facilities, government agencies, schools and establishing water depots in the following countries:
The distribution plan involves three phases. The first phase, already underway, is to obtain government approvals and endorsements for Airwell products – which are expected to occur by March 1, 2013.
The second phase of SunPlex’s plan is to distribute Airwell products to hospitals, schools and government offices throughout the designated countries in Africa, and work with government agencies to set up water depots in areas where accessing clean and fresh water is extremely difficult. Currently, the proposal calls for a minimum of 100 Airwell units at each water depot, however LifeTech has already begun an R&D effort to develop a commercial-sized, customized solution to more closely suit the needs of SunPlex’s, and others’ such, proposals.
The final phase of SunPlex’s proposal aims to partner with commercial and residential developers – incorporating the Airwell machines in their developmental plans – to which early discussions have suggested strong interest.
Under the terms of the agreement, the project has the potential to bring sales of up to $75 Million or more over the course of 5 years.
“SunPlex is an ideal partner for LifeTech in Africa. They have deep relationships with their regional sub-distributors, local re-sellers and consumers,” stated Benjamin Chung, CEO for LifeTech. “SunPlex’s reputation for providing dedicated customer service and support to their customers will greatly enhance the penetration of LifeTech’s AirWell units into the African market where our product is much needed.”
LifeTech Industries, Inc.
228 Hamilton Avenue, 3rd Floor
Palo Alto, CA 94301
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 product.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, LifeTech’s ability to design and manufacture its products following the acquisition, the ability of the products to gain market acceptance, and the difficulties faced by an early stage Air to Water Company in the competitive clean health industry. 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.