Business Editors
BRIGHTON, Mich.--(BUSINESS WIRE)--Feb. 6, 2003
McKenzie Bay (OTCBB:MKBY):
INSIDER SHARE BUYFake Prada HandbagsING
McKenzie Bay International, Ltd. (MKBY:OTC.PK) reports today that 159,000 shares were purchased in January, 2003 by corporate insiders.
Two McKenzie Bay International Directors, Steve McCormick and Gregory Bakeman, purchased a combined total of 143,000 shares, 130,000 of which were purchased directly from the Company.
Three subsidiary Company Officers, Michel Garon, Jacquelin Dery and Laurent Mondou, purchased a combined total of 16,000 shares, 10,000 of which were purchased directly from the Company.
PROJECT ACTIVITY UPDATES
Planning for construction of the research and development commercial 'pilot' production facility in Canada is progressing. Since its announcement on December 3, 2002 "McKenzie Bay Planning to Begin VFake Tudor Watchesanadium Production in 2003" a number of serious inquiries have been received from interested parties. Discussions and negotiations with these and other potential customers and saWholesale Boca Juniors Jerseyles agents (trading houses) are ongoing.
Planning continues for the construction of two Dermond Vertical Axis Wind Turbines to prove technology improvements and gain necessary UL and CSA approvals for commercialization. Funding sources and strategic partners are now being sought.
This press release contains statements that are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as 'estimates,' 'anticipates,' 'plans,' 'believes,' 'projects,' 'expects,' 'intends,' 'predicts,' 'future,' 'may,' 'potential,' 'contemplates,' 'will,' 'should,' 'could,' 'would' or the negative of such terms or other comparable terminology. These statements relate to the CompanyPSG Soccer Jersey Wholesale's future operations and financial performance or other future events. These statements are only predictions and not guarantees of future success. Many of the forward-looking statements are based on assumptions about future events that may prove inaccurate. Actual events, results, performance or achievements may differ materially from the events, results, performance or achievements discussed in the forward-looking statements. These differences may result from a variety of factors, including the following: lack of operating history; unavailability of future equity infusions and other financing alternatives; failure or delays in further developing proprietary processes or effectively commercializing such processes; dependence on the success of the pilot productionSwitzerland Soccer Jersey Wholesale facility and, ultimately, Lac Dore; inability to develop new products entering the energy storage market; failure of the high-purity vanadium market to materialize; failure to obtain required governmental approvals regarding Lac Dore; and concentration of ownership of the Company's common stock by directors and officers. These and other factors that may emerge could cause decisions to differ materially from current expectations. McKenzie Bay undertakes no obligation to revise, update or clarify forward-looking statements to reflect events or conditions after the date of this release.
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