NEW YORK, Sept. 22 /PRNewswire-FirstCall/ -- Medis Technologies Ltd. (Pink Sheets: MDTL), a developer and producer of fuel cells based on its proprietary sodium borohydride technologies, announced today, that as of Monday, September 21st, 2009, its Series B Preferred agreement with Volation Capital Partners has been terminated by its own terms. Medis does not plan to conduct any further business with Volation Capital Partners or its affiliates.
About Medis Technologies Ltd.
Medis Technologies Ltd. (MDTL: PK) (http://www.medistechnologies.com/), headquartered in New York, is the first company in the world to market a personal and portable liquid fuel cell capable of providing electrical power to the mobile electronics marketplace. The Medis fuel cell features a patented, proprietary fuel formulation that utilizes borohydride to generate electricity upon activation; it is safe, clean, silent, and recyclable. First generation products include the Medis 24-7 Power Pack; 24-7 Xtreme Portable Power Solution; and the Medis Fuel Cell Power Emergency Kit.
This press release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases you can identify those so-called "forward looking statements" by words such as "may," "will," "should," "expects," "plans," "targets," "believes," "anticipates," "estimates," "predicts," "potential," or "continue" or the negative of those words and other comparable words. These forward looking statements are subject to risks and uncertainties, product tests, commercialization risks, availability of financing and results of financing efforts that could cause actual results to differ materially from historical results or those anticipated. Further information regarding these and other risks is described from time to time in the Company''s filings with the SEC. We assume no obligation to update or alter our forward-looking statements made in this release or in any periodic report filed by us under the Securities Exchange Act of 1934 or any other document, whether as a result of new information, future events or otherwise, except as otherwise required by applicable federal securities laws.
CONTACT: Omer Masud Medis Technologies omerm@medistechnologies.com +1-212-935-8484 Brian Kennedy (Media) Allen & Caron +1-212-691-8087 brian@allencaron.com
Medis Technologies Ltd.
CONTACT: Omer Masud, Medis Technologies, omerm@medistechnologies.com,
+1-212-935-8484, or Brian Kennedy (Media), Allen & Caron, +1-212-691-8087,
brian@allencaron.com
Web Site: http://www.medistechnologies.com/
