LITTLETON, Mass.,
Before joining Magplane,
"Larry has hands-on experience in transforming early stage companies into
multi-million dollar, internationally recognized enterprises," said Magplane
Chairman of the Board and Chief Technical Officer,
About Magplane Technology, Inc.
Founded by a group of MIT engineers, Magplane Technology, Inc. (MTI) is the developer of the Magplane system, an innovative magnetic levitation (maglev) transportation system that offers significant advancements over other high-speed trains and light-rail transit systems. Magplanes can achieve speeds up to 500 km/hour for inter-city travel and nearly silent operation for urban mass transit systems. The Magplane system has also been adapted for use in a unique pipeline application that can reduce the cost and pollution from diesel trucks used in transporting material from mining operations.
For more information on the Company, visit http://www.magplane.com. For investor relations, please visit http://www.otcfn.com/magp.
Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such proclamations about the Company's future expectations, including future revenues and earnings, technology effectiveness and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
CONTACT: Jason Mill Magplane Technology, Inc. jbmill@magplane.com or Rick McCaffrey, Investor Relations OTC Financial Network 781-444-6100 x 625 rick@otcfn.com
SOURCE Magplane Technology, Inc.