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| January 27, 2005 - Trading Symbol: ROTB |
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| 10,000,000 Unit Offering Completed for $500,000 |
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| Rotoblock Corporation is pleased to announce that it has completed its offering of 10,000,000 units (each unit consisting of 1 share and ½ warrant) at $0.05 per unit. The offering was non-brokered and was conducted by management. The Company now has 25,000,000 common shares issued and outstanding and 5,000,000 warrants. A full warrant will entitle the holder to purchase one further share of Rotoblock at a price of $0.50 for a period of two years. |
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| The proceeds of the offering were first applied to repay the outstanding balance of the loan from Mint International in the amount of $350,000. The balance has been added to working capital to fund the Company's development of the oscillating piston engine. |
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| Although there is no certainty that any of the warrants will ever be exercised, if all the warrants were in fact exercised it would contribute a further $2,500,000 of capital to the Company. It is management's goal to add sufficient value to the Company through the development of the 2 nd generation of the oscillating piston engine to encourage the holders of the warrants to exercise same. |
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About Rotoblock Corporation
Rotoblock was formed to develop and market a new type of patented oscillating piston engine. The oscillating piston engine (OPE) weighs only a fraction of a conventional engine and requires no valves or valve train, nor a cumbersome water cooling system. It is the Company's business plan to develop the technology and build a prototype engine that can be sublicensed to third party manufacturers for use in any application presently being service by an internal combustion engine. |
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Safe Harbour For Forward-Looking Statements
Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Rotoblock Corporation has little or no control. |
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ON BEHALF OF THE BOARD OF ROTOBLOCK CORPORATION |
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“Peter Scholl” |
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Peter Scholl
President |
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