Whistler Investments, Inc. (WHIS) Corporate Update and On Site Tour
21 April 2004 - 1:04AM
PR Newswire (US)
Whistler Investments, Inc. (WHIS) Corporate Update and On Site Tour
LAS VEGAS, NV, April 20 /PRNewswire-FirstCall/ -- Whistler
Investments Inc. (OTC BB:WHIS.OB - News)
(http://www.whistlerinvestments.com/) subsidiaries, R-Electric Car
Company (http://www.r-electriccar.com/) Global Electric
Corporation, (http://www.globalelectric.com/) and Solium Power Corp
(http://www.soliumpower.com/) emerging leaders in the development
and marketing of lithium ion vehicles and lithium ion powered
products worldwide would like to take this opportunity to provide
an update on recent corporate developments and invite the public to
tour our development site in Van Nuys, Calif., on Friday April 23rd
at 9:00 am, by contacting us at
http:///www.info@whistlerinvestments.com for your pass. This tour
will give you a chance to see our technology and understand what we
mean when we say, "... changing the world by reinventing power . .
." Background Whistler Investments has entered into an agreement
with RV Systems, affiliated with Lithium House, a developer of
advanced lithium battery technology, to acquire the rights to the
Lithium Portable Power System technology developed by Mr. Chaz Haba
for applications to two, three and four- wheeled vehicles, lawn and
garden equipment, watercraft, and the worldwide rights to the
advanced Lithium/Solar Power System technology for application to
residential and commercial properties. Whistler has also entered
into an agreement to retain the services of Mr. Chaz Haba to
provide technical advice to Whistler's Board of Director's. Mr.
Haba was one of the engineers involved in the beginning of Intel,
and one of the early investors in Apple Computers in the 1970's.
Known as the "Thomas Edison" of the new millennium, together with
his associate engineers and physicists, he's changing the world, as
we know it. COMPANY RESTRUCTURE The company is restructuring by
putting in place three divisions, each a wholly owned subsidiary of
Whistler, and allocating the licensing rights for the various
applications into each applicable Division. Global Electric Corp
will hold the licensing rights for all product development other
than four-wheeled vehicles. R-Electric Car Co. will hold the
licensing rights for product development for all four-wheeled
vehicles. Solium Power Corp will hold the rights for the advanced
Lithium/Solar Power System technology developed by Mr. Chaz Haba,
for application to residential and commercial properties. On
January 20, 2004, we announced agreement for a $10 million equity
line with Boston-based Dutchess Private Equities Fund, LP. We
currently intend to file the necessary registration documents with
the SEC upon completion of our annual audit. On February 24, 2004,
we announced receipt of $1 million dollars of a $3 million dollar
non-recourse loan to be collateralized by stock. The company
intends to hold a special meeting of shareholders' upon approval of
the information circular, at which time we anticipate receiving the
balance of the funding. On February 25, 2004, we announced that our
Board of Directors had approved a three-for-one forward stock split
to become effective Wednesday, March 10, 2004. Stockholders of
record will be entitled to three shares of common stock for each
share of common stock held on that date. China Upon invitation from
Geely Corporation, executives from Whistler Investments and Mr.
Chaz Haba traveled to China and met with the Motorcycle Division
and the International Trade Division of Geely Corporation. We are
currently in the process of incorporating in China to position
ourselves for pursuit of joint ventures. We have signed an
agreement with Geely for a proposed joint venture and are now in
the stages of concluding the formal joint venture agreement. June 2
through June 6, Whistler Investments will be participating in the
Asian Pacific Economic Conference (APEC). This is a conference
hosted in Qingdao, China (http://www.apec-qingdao.cn/) attended by
representatives from at least 21 countries. We are confident that
our technology will be well received since many countries are
currently facing the challenge of pollution- control. We will
introduce our technology to the Asian market. To view the footage
and live demonstrations of our previous conference (GLOBE 2004 in
Vancouver, BC Canada), please visit
http://www.whistlerinvestments.com/video.html. Powerski On December
30, 2003 we announced that we had secured a joint venture with
Powerski International http://www.powerski.com/, to create another
model of Powerski's flagship product, the Powerski Jetboard(TM),
powered with a Lithium-ion electric motor. Please visit our website
http://www.globalelectric.com/ to view the video on the development
of the Jetboard - we anticipate testing this board in the beginning
of May. Upon completion, we expect the board to travel at 30 to 40
MPH, for over 1 hour. US Navy On February 5, 2004 we announced the
initiation of a lithium-ion conversion project with the United
States Navy. The project will serve as a trial, and the development
and implementation of this project will take place within the
Global Electric facilities in Van Nuys, California. Global Electric
has funded the initial 3kw prototype for this project, and we
anticipate the prototype will be ready for testing by the Navy in
May. We are also making a proposal for the Navy for a 100kw unit.
R-Electric Car Corp. We engaged California-based Cinema Vehicles
http://www.cinemavehicles.com/, to develop and build the highly
anticipated R-Car. Cinema Vehicles is the oldest and one of the
largest motion picture vehicle service companies in the world. They
have worked on major Hollywood productions such as T3, Austin
Powers, Gone in 60 seconds and XXX. The anticipated use for the
R-Car is for medium to long-range trips, as well as neighborhood
use. The motor was balanced, matched to a 6-speed transmission, and
tested on March 4th, 2004. Mr. Haba and his engineers have been
working closely with Cinema Vehicles regarding the mechanical
aspects of this development -- we are optimistic that we will be
able to unveil this much anticipated car at EarthFair 2004 in San
Diego, Calif. on April 25, 2004. We are anticipating that this
vehicle will be able to travel at speeds up to 90 mph with a range
of over 100 miles. Quoting Mr. Haba, "When the motor was spun it
was beautiful. I have never seen a motor interface so smoothly and
perfectly with the system. It was the result of precision
engineering, with no sound between the motor and the frame. The
drive also works very well." Austin Energy On March 1, 2004, we
announced that a letter of understanding between Whistler
Investments, Inc. and the City of Austin had been executed in
respect to the conversion of vehicles for the City of Austin, TX,
http://www.austinenergy.com/ subsequent to a senior level meeting
between Mark Kapner, Senior Strategic Planner for the City of
Austin, Mr. Chaz Haba and executives from Whistler, at their
development facility at Lithium house in Van Nuys, California.
R-Electric Car has purchased a 2004 Chrysler PT Cruiser -- we will
immediately commence work on the prototype for Austin Energy, and
hope to have it ready for testing early in the second quarter of
this year. Interface of the electric motor and controller is being
machined and engineered. Assembly will begin in May. ATV R-Electric
Car has completed conversion of ATV's that are being tested. We
have also developed a next generation ATV with independent
suspension. This ATV was displayed at the Globe 2004 in Vancouver,
BC Canada, this ATV can be viewed at
http://www.whistlerinvestments.com/video.html. Solium Power Corp.
Solar House The Lithium Solar House ("LSH") project will be under
the direction of Chaz Haba of RV Systems. Mr. Haba, President of RV
Systems, stated: "The purpose of the Lithium Solar House project is
to provide a test bed for an alternative source of power to the
home -- not connected to the Power Grid. The power source will be
Solar Panels for charging of the Lithium Ion Batteries, which are
used for storage of the power. The system will supply DC power for
the home and all appliances (using from 12 volts to 48 volts),
lighting, heat, air, etc., and will involve a site in Van Nuys,
California. "Our project will have two main aspects: the designing
of the house using the most efficient current building materials
and the most efficient use of Solar Panels as a charging source for
the Lithium Batteries, and designing and testing the various
combinations of Solar Panels and batteries in connection with the
various appliances, lighting and other power needs of the house."
We have now received the approved plan and are currently renovating
this Solar House. Construction completion and testing is
anticipated by Summer 2004. President Holly Roseberry stated, "We
are fortunate to have an enthusiastic and dynamic team, working on
many fronts at the same time and hope to bring our products to
market at an accelerated pace." Holly Roseberry President 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. Contact: Whistler
Investments Investor Relations (888) 669-1808 (604) 646-5624 Fax:
(702) 940-6516 http://www.whistlerinvestments.com/ http:///
DATASOURCE: Whistler Investments, Inc. CONTACT: Whistler
Investments, Investor Relations, (888) 669-1808, (604) 646-5624,
Fax: (702) 940-6516, http://www.whistlerinvestments.com/,
http:///http://www.info@whistlerinvestments.com/
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