LGM Wins $1.2 million Government Subsidizing Project from the Bid - WAFF-TV: News, Weather and Sports for Huntsville, AL

LGM Wins $1.2 million Government Subsidizing Project from the Bid

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Seoul, South Korea / ACCESSWIRE / July 15, 2014 / Leo Motors Inc. (OTCBB: LEOM) announced that its subsidiary LGM has won the government subsidizing development project, titled “Global High Tech Development/Industrial Convergence Promotion Project” in the bidding. The project is subsidized by the Ministry of Trade, Industry and Energy, and is supervised by the Korean Evaluation Institute of Industrial Technology.

As a result of winning the bid, LGM will develop two axle electric propulsion systems for remote controllable bass boats, and their hull development. LGM will be subsidized approx. $1.2 million for this project by the government.

Dr. Kang, chairman of LEOM said, “Our government highly evaluated LGM’s electric propulsion technology. Winning the bid will be great value reference to us.” LGM was acquired and merged by LEOM on 1st of July, 2014.

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.

For more information please call

Mike King, Princeton Research, Inc. 702.650.3000

 

Source: Leo Motors

ReleaseID: 417706

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