Published:
NW Tech Capital, Inc. Announces New Joint Venture for China Drug Store Distribution Center and Continued Telecom Revenues
NW Tech Capital, Inc.
(OTCBB: NWTT) announced today that it was forming a new Joint Venture
between its Hong Kong Subsidiary NW Tech Capital Hong Kong (NWTTHK) with
Zhuhai Jialun Guangcai Chain Drugstore Co., Ltd. ("ZJG Drugstores") as a
profit center to develop new distribution centers for ZJG Drugstores. This
modifies a previous announcement on August 19, 2008 that the ZDG Drugstores
would become a subsidiary.
James Wheeler, President and CEO of NWTT stated, "The new Joint Venture
with ZJG Drugstores gives us a better platform to introduce NWTTHK into the
China Market and uses our knowledge of the US Public market and capital
market to form this Joint Venture. It will eliminate a highly expensive and
time consuming audit of over 400 drugstores and will allow NWTTHK and ZJG
Drugstores to work together to develop new distribution centers throughout
China. NWTT is currently working with a funding group interested in
financing the Joint Venture of the distribution centers. ZJG management
will operate these centers and distribute their products as well as other
products throughout China. This allows both companies to stay with what
they know best."
Wheeler states: "NWTT will stay focused on its subsidiary Teledigit, Inc.
and will continue to build upon its revenue stream from Teledigit here in
the United States. We will have the Teledigit financial report for the 3rd
quarter completed within 30 days. Revenues continue to improve and we look
forward to expanding our position in the Technology field."
About ZJG Drugstores
The ZJG Drugstores supply over 2000 chain drugstores in Guangdong Province
in the cities of Zhuhai, Zhongshan, Fuschan, and Dongguan with over 700
internally manufactured products. Additional information regarding the ZJD
Drugstores is available at http://www.gzhuang.cn/zhuhai/e_index.asp.
About Teledigit, Inc.
Teledigit, Inc. operates a Data & Telecommunications Company in the Pacific
Northwest. Established in 1995, Teledigit, Inc. bases its operations out of
Portland, Oregon serving customers throughout the United States.
About NW TECH CAPITAL, INC.
NW Tech trades on the OTC Bulletin Board under the ticker symbol "NWTT."
For more information on NW Tech Capital or TeleDigit contact
investor@nwtechcapital.com or visit web site at www.teledigitinc.com.
Certain Information
Investors are cautioned that certain statements contained in this document
as well as some statements in periodic press releases and some oral
statements of NWTT officials are "Forward-Looking Statements": within the
meaning of the Private Securities Litigation Reform Act of 1995 (the
"Act"). Certain statements in this news release may contain forward-looking
information and are based on Management's current expectations, estimates
and projections subject to change. Words such as "anticipates," "expects,"
"intends," "plans," "targets," "projects," "believes," "seeks," "estimates"
and similar expressions are intended to identify such forward-looking
statements. These statements are not guarantees of future performance and
are subject to certain risks, uncertainties and other factors, some of
which are beyond our control and are difficult to predict. Therefore,
actual outcomes and results may differ materially from what is expressed or
forecasted in such forward-looking statements. You should not place undue
reliance on these forward-looking statements. Unless legally required, the
Company undertakes no obligation to update publicly any forward-looking
statements, whether as a result of new information, future events or
otherwise. The Company disclaims any information that is created or
distributed by any outside party and endorses only information that is
communicated by its official Press Releases.
Copyright © 2008, MarketWire
Copyright © 2008, NewsBlaze,
Daily News
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