NEW YORK, April 11, 2006 (PRIMEZONE) -- Vitasti, Inc. (OTCBB:VITS) (the "Company") is pleased to announce that it has signed an agreement with Welwind International Energy Corporation (WIEC) for 100% of WIEC's assets in exchange for 11,000,000 restricted shares of Vitasti.
The Company's recent due diligence trip to China with WIEC Management proved to be very successful for the development of wind farm projects. Two contracts were signed by WIEC with the cities of Yangxi and Zhanjiang in the Province of Guangdong. The signed contracts allow WIEC to build 1000 Megawatts of wind power in Guangdong Province with a 50 year PPA. The EPC contractor, China Machine International Building Corp., has agreed to provide the engineering, procurement and construction on the projects along with performance bonds. The Zhanjiang Project already has 3 years data for the area and WIEC will conduct due diligence with an engineer to verify the information.
Several other Provinces were visited during the trip and various opportunities are currently being considered for additional wind farm development.
"We are pleased with the results of our recent trip to China and all of the opportunities to be realized. Welwind's relationships and efforts in China are of great asset to Vitasti and its shareholders," says Shannon deDelley, Director, Vitasti Inc.
ABOUT CHINA
Electricity consumption in China grew by 10 percent last year raising anew questions about how the country will power its factories, businesses, and homes over the coming decades. China's traditional power choices -- coal and hydro -- have significant environmental and social repercussions that have become increasingly serious political and economic issues. Natural gas has received much attention lately as an alternative, but renewable energy sources such as wind are also gaining favor.
ABOUT WELWIND INTERNATIONAL ENERGY CORPORATION (WIEC)
Welwind views wind power as becoming one of the most efficient power sources globally. WIEC was founded in 2005 to build, own and operate wind farms on an international scale. Their current project is to bridge the North America-China link by building wind farms in China beginning along the South China Sea.
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements, which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, risks set forth in documents filed by the company from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by, or on behalf of, the Company, are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.