|By Marketwire .||
|February 21, 2013 05:30 PM EST||
SCOTTSDALE, AZ -- (Marketwire) -- 02/21/13 -- MediaTechnics Corporation (PINKSHEETS: MEDT) is pleased to announce that it has executed a letter of intent to sell more than $500,000 of LED based grow lights to Evergreen Systems Incorporated ("ESI") and as much as another $500,000, or more, in solar power products over the next twelve months. The parties are currently negotiating the terms of a long-term agreement.
ESI and its affiliated companies and partners lease lighting and hydroponic equipment to established non-profit medical marijuana cooperatives in California that are fully compliant with state medical marijuana laws.
According to ESI, the grow lights only produce light in the wavelengths to which Chlorophyll A and B respond, dramatically reducing the power necessary to grow plants. The use of solar power generation equipment is intended to reduce the carbon footprint of the cooperatives while ensuring high quality products for their members.
MEDT continues to work towards completing its 2012 Financial Statements, as well as an updated Initial Company Information Statement and intends to publish them via OTC Markets as soon as possible.
Notes about forward-looking statements
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties.
Certain Statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"), and it is the Company's intention and belief that all such statements are covered by the safe harbors created by the Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied.
Forward-looking statements may be identified by words such as "estimates," "anticipates," "projects," "plans," "expects," "intends," "believes," "may," "should" and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date when they are made.