MEDICAL INTERNATIONAL TECHNOLOGY INC.
DENVER, CO, June 4 /CNW Telbec/ - Medical International Technology Inc.
(MDLH. PK) (http://www.mitcanada.ca http://www.mitinvest.ca), is pleased to
announce that after many months of negotiations with its Chinese counterpart,
it has negotiated and reached a joint venture agreement with one of the
largest Chinese medical corporations. An initial one-million dollar joint
investment will permit the formation of an assembly line of MIT's MED-JET(R)
and AGRO-JET(R) product lines. Thereafter, a further 10 million dollars will
be invested within the next three to five years for full manufacturing to
satisfy the Chinese market.
This venture will help MIT mass-produce all of its jet-injector models
for Human and Animal applications. The initial target will be the Chinese
market, which will lead to opportunities in many other countries. All
documentation with regards to achieving this agreement has started and MIT
estimates that it will take two to three months to complete.
Medical International Technology Inc. is pleased to continue providing a
safe and effective means to help prevent the spread of deadly diseases to both
humans and animals through the use of the MED-JET(R) and AGRO-JET(R)
needle-free injection systems.
Karim Menassa, President
On Behalf of the Board of Directors
About Medical International Technology, Inc. MIT CANADA, with offices in
Montreal, is a subsidiary of Denver, Colorado-based Medical International
Technology, Inc. (MIT USA), which specializes in the development, production,
marketing and sale of needle-free injectors both for humans and animals, for
individual and mass vaccinations.
The statements which are not historical facts contained in this press
release are forward-looking statements that involve certain risks and
uncertainties, including but not limited to risks associated with the
uncertainty of future financial results, additional financing requirements,
development and acquisition of new product lines and services, government
approval processes, the impact of competitive products or pricing a
technological changes, the effect of economic conditions and other
uncertainties, and the risk factors set forth from time to time in the
Company's SEC reports, including but not limited to its annual report on Form
10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K.
Medical International Technology Inc. takes no obligation to update or correct
For further information:
For further information: Karim Menassa, President, (514) 339-9355,