Medina International Holdings, Inc. (OTCBB: MIHI)
Company Seeing Increased Global Demand for Marine Security and Fire Safety Watercraft
SAN BERNARDINO, CA–(MARKET WIRE)–Aug 21, 2007 — Medina International Holdings, Inc. (OTC BB:MIHI.OB – News) announced today that it has entered into an agreement with Albert Mardikian, the patent holder for the 12′ and 15′ boat designs for Rescue and Fire Rescue boats, to extend the patent license term for ten years expiring in 2017. The Agreement provides for exclusive license rights for the 12′ and 15′ patented boat designs and non-exclusive license rights on the Patented Fire Pump design.
“We are pleased that Mr. Mardikian has agreed to extend the license term on these patents,” stated Daniel Medina, CEO of Medina International Holdings, Inc. “We have received very positive feedback on our boats and are experiencing a wave of new interest from both domestic and international agencies. We are confident in our product and are anxiously anticipating an upcoming trade show, which should be announced shortly, and several meetings with representatives of countries that have a direct need for our boats.”
He added, “The worldwide need far outstrips the currently available options for boats such as ours, which fits nicely into our overall growth strategy and marketing plan. Our internal sales forecasts predict demand that, if global conditions remain the same, could very quickly turn Medina into an important player in the global marine security marketplace.”
About Medina International Holdings, Inc.
Medina International Holdings, Inc. produces commercial fire, rescue, police and patrol boats utilizing the highest design and performance standards. The company’s products combine safety, power, handling and stability with a proprietary hull design and equipment features that address specific niche markets.
With thousands of miles of waterways in the United States alone, opportunities for fire, search and rescue, and patrol boats are abundant. The potential addressable global market for these types of watercraft is in the billions of dollars, which presents exponential potential growth opportunities for the company.
For more information, visit http://www.medinaih.com and http://www.medinamarine.com.
This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including statements regarding potential sales, the success of the company’s business, as well as statements that include the word “believe” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Medina International Holdings, Inc. to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in Medina’s Annual Report on Form 10-KSB for the currently fiscal year and any subsequent reports filed with the SEC under the Exchange Act. This press release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, inability to timely develop of products or services, inability to deliver products or services when ordered, inability of potential customers to pay for ordered products or services, and political and economic risks inherent in domestic and international trade.
Contact:
CONTACTS:
Medina International Holdings, Inc.
Daniel Medina
President
(909) 522-4414
Communications:
Cinapsys, Inc.
Mark Moline
(760) 458-4899
Source: Medina International Holdings, Inc.
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