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TORONTO, Feb. 14, 2013 (GLOBE NEWSWIRE) -- PM&E, Inc. (OTC Pink:PMEA) announced today the steps in development of the distribution network in Russian Federation. The Company has launched work to set up and develop distribution of its solar power generation panels to retail and wholesale customers on the territory of Russian Federation and neighboring countries.
PMEA's wholly owned subsidiary Suncetix Inc. has started negotiations with Medium In Motion Inc., a Toronto-based subsidiary of Palladium Sorento group with head office in Moscow, Russian Federation, in order to explore the opportunity to secure exclusive right to sell market-ready solar power generation application in Russian Federation. As the date nears of the commercial launch into production, licensing, retail and wholesale formats of the Company's modular solar power application, Medium in Motion, Inc. noticed a great opportunity in this niche, as per words of Boris Sverdlov, President of Medium in Motion, Inc. "We are pleased to have an interest of one of the leading hardware distributors in Russia, said CEO Jack Merck, we will definitely consider the terms under which we can grant exclusivity to this firm, based on guaranteed performance by the Medium In Motion Inc."
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act. The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees as of 1995. Those statements include statements regarding the intent, belief or current expectations of PM&E, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
CONTACT: Thomas Hamilton