LAS VEGAS, Sept. 11, 2003 (PRIMEZONE) -- Whistler Investments, Inc. (OTCBB:WHSL) is pleased to announce it has completed a Private Placement with The Seven Oaks Group Ltd., for One million Units at $4.00 per Unit, for a total investment of Four Million ($4,000,000.00) US dollars.
Each Unit comprises one Share and One Warrant to purchase an additional Share at $6.00. The Warrant will have a one-year term. The transaction is set to close on or before September 30, 2003. Whistler has agreed to pay a finders fee of 3.5% to designee upon receipt of funds.
Whistler and Seven Oaks are pleased to enter into this agreement, as NuPow'r, LLC's technology is leading the way into the electric revolution. The modern world needs to move from hydrocarbon, fossil fuel burning petroleum dependence, to a clean, renewable electric-based energy source.
All of the companies involved; NuPow'r, Whistler and Seven Oaks, are committed to "Changing the Way the World Moves!"
The Lexus 2054 is featured in the Steven Spielberg futuristic detective thriller "Minority Report" Starring Tom Cruise. This vehicle is powered by our 500KW power system.
About the technology
NuPow'r, LLC (NPL), is a 'new age' electric vehicle and electric products development company founded by Chaz Haba. Mr. Haba was one of the engineers involved in the pioneering of Intel, the inventor of the 'computer chip' in the late 50's with Fairchild, and the largest single investor in Apple Computer in the 60's. Mr. Haba, together with his associate engineers and physicists, is changing the world as we know it.
This patented technology has allowed the team to test a new age electrical sports car at speeds of 125 mph for over 250 miles.
With the patented recharging system, the car is ready for use in the time it takes to eat lunch, 10 times shorter than anything on the market today. Essentially, this Power System cuts the weight of battery packs by up to 75%, doubles or triples the range and speed of those electrical vehicles, and cuts the recharge time by 75%.
Opportunity
An assessment of market opportunities for zero emission vehicles and alternative power systems shows us to be where the semiconductor market was in the 1960's.
Applications
Our new product line already presents an extremely attractive alternative for a multitude of applications, not only in North America but also in Europe and South East Asia.
Golf carts with a 100 mile range and on road speeds of up to 50mph, Go-Carts, up to 85 mph, E-bikes and scooters and many others too numerous to list.
For a complete listing of the applications and design of this technology, please visit our web site at www.nuageelectric.net
Forward-Looking Statement
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.