Seoul, South Korea / CRWEPRESSRELEASE / December 21, 2015 - Leo Motors Inc. (OTCQB: LEOM) signed an Engagement Agreement with an Investment Bank, NMS Capital Advisors LLC. Participants attending the signing at the Los Angeles offices of NMS Capital Advisors included Dr. Shi Chul (Robert) Kang, CEO of Leo Motors, Mr. Trevor M. Saliba, Chairman of NMS Capital Group, Mr. Jeong Yeol Choi, and Vice Chairman of Leo Motors.
Dr. Kang commented: "This Engagement Agreement enables Leo Motors to extend its financing to projects underway in China and the Philippines. It propels Leo Motors into a large scale revenue generator."
The Engagement Agreement allows the Bank to proceed with the financing of Chinese projects for the manufacture of electric buses and trucks for distribution to public organizations in Northern China. In these regions, Leo has a "blue ocean" (uncontested) market to provide Electric Vehicles with battery power packs.
Traditional battery power packs fail in extreme cold temperatures thus incapacitating Electric Vehicles in the extreme cold regions of the world. LEO has solved the cold region problem with its newly invented Carbon Nano Tube (CNT) electric vehicle battery power pack that functions and supplies full power in low temperatures (under -49 degrees F) without any capacity or power loss. China has regulations requiring 50% of new government-purchased vehicles to be electric and LEO's technology will allow them to be in compliance. Russia has the same problem in its cold regions.
E-taxi projects in Southeast Asian countries have been largely unsuccessful because of the limited range and long charging time of taxi-owned batteries. LEO has solved the dilemma with its proprietary battery rental system using patented cartridge batteries. Tricycle taxi drivers can be back in service within minutes rather than 3~4 hours daily to battery recharging. Leo will establish battery rental centers around the city. The price of Leo's electric tricycles will be lower than internal combustion engine (ICE) tricycles because they'll be sold without batteries. Taxi drivers will then rent the fully charged batteries at a cost substantially lower than fueling with gas.
In the Philippines, Leo as initiated a project intended to retrofit over 4,000 Puerto Princesa ICE tricycle taxies converting them into electric tricycle taxis.
About NMS Capital Advisors:
NMS Capital Advisors, LLC, is an independent registered broker dealer firm specializing in providing trading and brokerage services to individuals, corporations and institutions. Founded in 2006 and headquartered in Beverly Hills, California. The firm is a Member of FINRA, SIPC and MSRB.
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates," "will," or "plans" to be uncertain and forward looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the company's reports and registration statements filed with the Securities and Exchange Commission.
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SOURCE: Leo Motors Inc.