/ CORRECTION - LCTI Low Carbon Technologies Poised for Up-Listing; Looks Toward OTCQX Market on Heels of Upcoming Quarterly Financial Disclosure
VANCOUVER, BC--(Marketwired - Apr 26, 2013) - In the news release, "LCTI Low Carbon Technologies Poised for Up-Listing; Looks Toward OTCQX Market on Heels of Upcoming Quarterly Financial Disclosure," issued earlier today by Low Carbon Technologies International, Inc. (PINKSHEETS: LWCTF), we are advised by the company the date at the end of the first paragraph should read "May 31st, 2013" rather than "May 31st, 2010" as originally issued. Complete corrected text follows.
LCTI Low Carbon Technologies Poised for Up-Listing; Looks Toward OTCQX Market on Heels of Upcoming Quarterly Financial Disclosure
Enterprise Value Thought to Approach $200 Million -- Stronger Exchange Expected to Validate Value
VANCOUVER, BC -- April 26, 2013 -- LCTI Low Carbon Technologies International, Inc. (PINKSHEETS: LWCTF), a diversified company focused on the Clean-tech, Construction, Energy & Energy Efficiency, Environmental, Mining and Real Estate business sectors, announced today that the company will pursue up-listing to the OTCQX Marketplace after the next quarterly filing -- expected May 31st, 2013.
"The move to the OTCQX will strengthen the investment viability LCTI currently offers to its investors today," stated Bryan S. Jarnagin Chairman and CEO. "We strongly believe the feasibility of our company's value is being grossly underestimated partly due to the exchange we are currently trading on."
Reporting on the Pink Sheets market is a completely voluntary filing process which LCTI has committed to. Management feels however, with preliminarily Year-to-Date numbers of $13mm EBITDA and $10.75mm Net Income -- increases of approximately 62% and 600%, respectively, from Fiscal 2012 -- the markets are likely more "apt to respond favorably when LCTI is trading on the OTCQX," said Jarnagin.
Mr. Jarnagin continued, "What our shareholders must keep in mind is that each of our technologies is independently valued by a premier U.S. valuation company. Each of our properties is independently valued by licensed real estate appraisers. And in both cases, as a general practice, we look to have these valuations qualified, verified and accepted by the standing auditor at that time. Therefore, with confidence I can surely say, if forecasts determine LCTI will likely have an Enterprise Value approaching close to $200 million dollars by Fiscal year end, I feel inclined to support those findings."
A premier tier of the U.S. Over-the-Counter Market, the OTCQX is home to such companies as Adidas AG, BNP Paribas, Air France and Akzo Nobel N.V. People close to the company believe the combination of current asset valuations and revenues, along with the projected values of pending projects, Low Carbon Technologies is a good fit for the OTCQX.
"We expect LCTI to be in a prime position to initiate a move to the OTCQX by Fiscal year end [8/13], by at which point, we believe that today's shareholder, will be the greatest benefactor of tomorrow's progress," concluded Mr. Jarnagin.
Safe Harbor
This news release contains forward-looking statements. These statements fall within the meaning of the Private Securities Litigation Reform Act of 1995 (the "ACT"). Such statements are not historical facts; including statements about plans and expectations regarding products and opportunities, demand and acceptance of new or existing products, capital resources and future financial results -- all forward-looking. Forward-looking statements involve risks and uncertainties which may cause the Company's actual results in future periods to differ materially from those expressed. These uncertainties and risks include changing consumer preferences, lack of success of new products, loss of the Company's customers, competition and other factors discussed from time to time in the Company's filings with the Securities and Exchange Commission. You can identify forward-looking statements by terminology such as "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions. Other factors may cause the Company or the industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested herein. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results.
You should independently investigate and fully understand all risks before making investment decisions.
