Li-ion Motors agreement with Canadian Corporation

Online, June 1, 2010 (Newswire.com) - The leading manufacture of electric vehicles has entered into a licensed agreement wherein the Canadian Corporation has the right to manufacture and market LI-ion Motors products. Li-ion Motors corp. is a leading manufacturer of emission free vehicles. LMCO is 21st century design and engineering of emission free and high speed vehicles. It uses advanced Lithium - ion battery technology to manufacture vehicles such as cars, trucks, motorcycles, mopeds and many more.
This licensing is the beginning to eliminate research and development costs and thus utilizing government incentives of particular country. Li-ion Motors look forward to sign such agreements with other countries in near future.
Both the corporations have decided to pay the balance of licensing value in convertible securities. The Canadian Corporation will have to pay big amount of $1,000,000.00 CDN as cash payment to Li-ion Motors on the completion of valuation. Apart from this the Canadian corporation will be annually paying a research and development fee of $500,000.00 and a royalty fee for each vehicle.
FORWARD LOOKING STATEMENT:

This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ.