MIAMI, Nov. 23, 2009 (GLOBE NEWSWIRE) -- Centriforce Technology Corp. (Pink Sheets:CNFO) and American International Industries, Inc. (Nasdaq:AMIN) are following through on the LOI signed on Nov. 2, 2009, and are discussing the development of a Joint Venture (JV) through a new entity to operate in the water desalination industry.
The purpose of the Joint Venture (JV) would be to build and install a commercial desalination plant utilizing Centriforce Technology's advanced design that has been proven to be more efficient than existing technologies. Because of the efficiencies of Centriforce Technology's unique technology, the JV would be in a position to profit from operating the plant and selling potable water under contract with municipalities and industrial clients.
"Joining forces with AMIN to create a Joint Venture would accelerate Centriforce's schedule for installing a commercial desalination production plant and producing a continuous revenue stream," stated Matthew Schulman, President. "We look forward to finalizing the positive discussions with AMIN and hopefully reach the next phase of our project," added Mr. Schulman.
The potential JV has begun to evaluate executive candidates for CEO and other top management positions. However, until a definitive JV agreement and structure has been formally agreed upon, no employment agreements will be offered.
Centriforce Technology Corporation continues to concentrate on its goal of delivering its advanced, efficient technology to the entire world to resolve potential water shortages in the future.
Safe Harbor Statement: Under the Private Securities Litigation Reform Act of 1995 this news release contains forward looking statements within the meaning of section 27A of the Securities Act, as amended, and Section 21E of the Securities Exchange Act, as amended. Forward looking statements often include words such as expect, hope, anticipate, believes, etc. Forward looking statements involve both known and unknown risks and uncertainties that may cause actual results and performance to differ materially from those expressed in this press release.