TSX Venture Exchange symbol: HGS
TORONTO, June 20 /CNW/ - Hy-Drive Technologies Ltd. (HGS: TSX.V)
announced today it has been recognized as a 2007 TSX Venture 50(TM) company.
The TSX Venture 50 are the top 10 companies in each of five major industry
sectors - mining, oil & gas, technology, life sciences and diversified
industries - based on a ranking formula with equal weighting given to one-year
revenue (last reported 12 months), return on investment, market cap growth and
trading volume. Hy-Drive was ranked as the number two (2) company in its
sector. All data was as of December 31, 2006.
"We are delighted to be recognized as a 2007 TSX Venture 50(TM) company"
said Tom Brown, President and CEO of Hy-Drive. "Our TSX Venture listing has
allowed us to attract world class shareholders who have supported our vision
of bridging the gap to the hydrogen economy. The nomination is another clear
signal that we are holding true to our strategic path. Throughout the year we
have strengthened the company, building upon our technology base, and have
brought a valuable series of products and services to market."
Hy-Drive is an energy technology firm that has developed a proprietary,
patented hydrogen generating system. The Hy-Drive system generates and injects
hydrogen gas into a regular internal combustion engine, enhancing the
combustion process by allowing fuel to burn more efficiently and completely.
For further information, visit www.hy-drive.com.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this press release may constitute
forward-looking statements. Such statements reflect Hy-Drive's current views
with respect to future events and are subject to certain risks, uncertainties
and assumptions. Many factors could cause Hy-Drive's actual results,
performance or achievements to be materially different from any future
results, performance or achievements that may be expressed or implied by such
forward-looking statements, including among other things, those which are
discussed under the headings "Risk Factors" and elsewhere in documents that
Hy-Drive files from time to time with securities regulatory authorities.
Should one or more of these risks or uncertainties materialize, or should
assumptions underlying the forward-looking statements prove incorrect, actual
results may vary materially from those described herein as intended, planned,
anticipated, believed, estimated or expected. Hy-Drive does not intend, and
does not assume any obligation, to update these forward-looking statements.
The TSX Venture Exchange has in no way passed upon the merits of the
proposed transaction and has neither approved nor disapproved the contents of
this press release. The TSX Venture Exchange does not accept responsibility
for the adequacy or accuracy of this release.
For further information:
For further information: Investor Relations: Glen Akselrod, Bristol
Capital Ltd., Tel: (905) 326-1888, email@example.com; OR Tom Brown, President
& CEO, Hy-Drive Technologies Ltd, Tel: (905) 542-3024, ext. 300,
firstname.lastname@example.org; Media Relations: Teresa Madaleno, KTML Communications
Ltd., Tel: (416) 877-3915, email@example.com; OR Patrick Smith, Marketing &
Communications, Hy-Drive Technologies Ltd., Tel: (905) 542-3024,