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Message: Clarification from Zenn - validation of permittivity tests

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Clarification from Zenn - validation of permittivity tests

posted on May 01, 09 07:13AM

Zenn Motor clarifies EEStor permittivity notice period

2009-05-01 10:36 ET - News Release

Mr. Catherine Scrimgeour reports

ZENN MOTOR COMPANY UPDATES ON EESTOR PERMITTIVITY MILESTONE NOTICE PERIOD

Zenn Motor Company Inc. (ZMC) has provided clarity to its stakeholders related to news in Stockwatch of ZMC's energy storage partner, EEStor Inc., on April 27, 2009.

"A number of interested parties have requested clarification regarding the specifics of the notice period in which ZMC must notify EEStor of our intention whether or not to increase our equity position, based on the terms of the share purchase agreement between the companies," stated Ian Clifford, chief executive officer of ZMC. "The five-business-day notification period only begins once ZMC has completed its validation of third-party-verified permittivity results, a detailed process ZMC is currently engaged in."

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