DENVER, CO, May 21 /PRNewswire-FirstCall/ - Medical International Technology Inc. (MDLH. PK) (http://www.mitcanada.ca http://www.mitinvest.ca),
The name of the joint venture company is "Jiangsu Hualan MIT Medical Technology (MIT China) Ltd" and will be located in Taizhou city in the Jiangsu province. This prime location, supported by the central government, will become the most important medical city in China through the relocation of the pharmaceutical and medical devices corporations. MIT Canada will have 49% equity in "Jiangsu Hualan MIT Medical Technology (MIT China) Ltd". The total investment by both parties will be US$ 1.4 million dollars.
All the legal documents for the incorporation and licenses for the manufacturing of all
This joint venture agreement will help Medical International Technologies (MIT Canada) Inc. become a world leader in the Needle-Free technology and reduce the world's dependence on needles. Moreover, it will ensure that
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.
|SOURCE MEDICAL INTERNATIONAL TECHNOLOGIES INC.|
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