REDWOOD CITY, Calif., June 18, 2009 (GLOBE NEWSWIRE) -- Nemo Motors Corp. (Pink Sheets:NMOC) announced today that its shares began trading on the U.S. OTC Pink Sheets Markets under the ticker symbol NMOC.
According to the company, a licensing agreement was signed by and between Nemo Motors and Nemo Vehicle Inc., whereby a total of 70 million shares were issued to Nemo Vehicle Inc. The company has a total of 115 million shares outstanding, giving the company a market capitalization of US$33,810,000 as of June 17, 2009.
About Nemo Motors Inc.
Nemo Motors is a manufacturer and distributor of a fully recyclable electric utility vehicle named Nemo. After 5 years of research and development, testing and certifications, Nemo Motors has started to deliver its first clients this year. Nemo is an Official Supplier to Transport Canada who has formally approved our Trucks and Accessories. As of December 19, 2007, the Province of Quebec has authorized Nemo to sell & license the trucks under House of Commons vote approval (pilot project), and in addition to British Columbia, Nemo is an Official Supplier to Ontario & Alberta and is approved in 48 States in the USA. www.nemomotors.com
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates", "believes", "could", "expects", "intends", "may", "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.