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| March 30, 2004 - Trading Symbol: ROTB |
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| Option of Rights For Oscillating Piston Engine |
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| Rotoblock Corporation is pleased to announce that it has acquired all of the shares of Rotoblock Inc which is party to an Agreement with Monti Farrell (the “Option Agreement”) granting Rotoblock Inc the option to acquire all rights to the Oscillating Piston Engine (“OPE”) invented by Farrell. |
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| The Option Agreement grants Rotoblock Inc. the right to purchase the patents underlying the technology at any time on or before 18 or 36 months from the date of the initial payment of a $100,000 deposit (which is intended for May 31, 2004) for $1,000,000, if within 18 months, or $1,500,000 if within 36 months. In addition, the option may be assigned or transferred to another party without the prior approval of the Optionor. |
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| During the term of the option, we have the exclusive right to manufacture and market all products covered by the patents. Rotoblock Inc. has offices and mechanical facilities at 1715 Cook Street, Suite 205, Vancouver, BC,. It has b egan development work with the OPE to create a second generation engine and currently is in the process of testing and improving on the patented design. |
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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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