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Orca Touchscreen Announces Proposed Factory Opening for its Guatemala Smartphone Project(Filing Services Canada Via Acquire Media NewsEdge) Vanouver, British Columbia (FSCwire) - Orca Touchscreen Technologies Ltd. (the “Company” or “Orca Touchscreen”) is pleased to announce that, further to its press releases dated July 18, 2014 and October 8, 2014, and in connection with the Guatemalan joint venture company Sollen-Mobile, Sociedad Anonima (“Sollen-Mobile”) in which the Company has a 1/3 interest by way of the Letter of Intent previously announced: 1. Sollen-Mobile has been incorporated in Guatemala; 2. Sollen-Mobile held an opening ceremony at the Barcelo Hotel in Guatemala City on October 15th at which: a). Sollen-Mobile announced that: b). (i) it has commenced site and building improvements at its assembly factory in the “Technopark” area of Escuintla, Guatemala, (ii) proposes to complete such improvements by mid-November 2014, (iii) proposes to equip the factory by end of December 2014, and (iv) proposes to commence smartphone and tablet assembly operations about mid-January 2015; c). the attendees included the Guatemalan President; Vice President; and Ministers of Economy, Science, and Labour; and included Frank Woo, the CEO of Orca Touchscreen; d). Roxana Baldetti, Vice President and Minister of Economy for Guatemala, announced that the Guatemalan government proposes to purchase 300,000 tablets to replace school textbooks in 2015; e) Samuel Vasquez, President of San Pablo University, announced that he would work to make the University a ‘smart’ environment by distributing Sollens-Mobile products to his students and lending University cooperation to further develop the Sollen-Mobile joint venture project; and f) Adrian Oh, Vice President of Sollen-Mobile, announced that its 2015 business plan is to produce smartphones, touch tablets, touchscreen CCTV solutions, VOIP phones, and other devices which use smart and touch-sensor technology, and further announced that its 2015 sales target is USD 6.5 million. The head office and factory of Sollen-Mobile is located in Escuintla, Guatemala (about 42 miles south of Guatemala City), in the industrial park called “Technopark”. The Technopark is a strategically centralized industrial hub for Central American markets, providing both logistical convenience and Guatemalan tax advantages. The Sollen-Mobile joint venture partners , including Orca Touchscreen, are currently working towards a definitive agreement for the joint venture project. About Orca Touchscreen Orca Touchscreen sells and distributes capacitive touchscreens to manufacturers of smartphones, tablets, laptops, mp3 players, GPS navigation systems, automobile controls, exercise equipment, educational and public information kiosks, point of sale devices, e-readers, medical devices, gaming consoles and other electronic devices. Orca Touchscreen has an exclusive worldwide license to use and sublicense all the technology and patents owned by Sollensys Corp. to make, sell and distribute touchscreen products and services. Sollensys Corp., a Korean corporation, is a global leader in innovative capacitive-touch sensor technologies. To learn more about Orca Touchscreen, visit www.orcatouchscreen.com, and you can view its profile and documents at www.sedar.com and www.thecse.com. For further information, please contact: Jong Myung (James) Choi Chief Financial Officer and a Director Orca Touchscreen Technologies Ltd. Telephone: 604.880.0499 Email: [email protected] The CSE has not reviewed, approved or disapproved the content of this press release. Forward-Looking Information: This press release may include ‘forward-looking information’ within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. To view this press release as a PDF file, click onto the following link:public://news_release_pdf/orca10232014.pdfSource: Orca Touchscreen Technologies Ltd. (CSE:OAA) http://www.orcatouchtech.com/ Copyright © 2014 Filing Services Canada Inc. |