DENVER, CO, June 25 /PRNewswire-FirstCall/ - Medical International Technology Inc. (MDLH. PK) (http://www.mitcanada.ca http://www.mitinvest.ca), MIT is pleased to announce that it has received a US$ 500,000 private placement from its Chinese partners and a new order of 200 units. This private investment from our partners was done based on two issuances; the first for a total of US$ 250,000 at $ 0.10 and the second US$ 250,000 at $ 0.14. This investment and the new order show the beginning of a strong commitment and a step towards a successful long-term relationship between MIT and its Chinese partners.
Jiangsu Hualan MIT Medical Technology (MIT CHINA) Ltd., is actively promoting and selling MIT's unique Agro-Jet(R) needle-free jet injector for animal application, and Med-Jet(R) for human application, and is in the process of obtaining the certification for the production and sales of both models.
With the recent deaths from the outbreak of the "swine-flu" H1-N1 and the increased fear of the possible pandemic that could affect millions of people around the world, MIT and MIT China will be strongly promoting the Med-Jet(R) and the Agro-Jet(R) to help the world deal safely and efficiently with any decision that will be taken by governments for mass vaccination of humans and animals.
The MIT China venture is the beginning of a few Joint Venture agreements to be negotiated within the next several years. MIT is on its way to becoming a world leader in needle-free technology and its objective is to ensure that MIT injectors become an indispensable, environmentally friendly product for doctors and users around the world.
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 system.
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 forward-looking statements.
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