Nov 23, 2009

Centriforce Technology, American International Industries, Inc., Discussing Joint Venture

Joint venture to build and install commercial desalination plant using Centriforce Technology's design

Centriforce Technology Corp. and American International Industries, Inc. (AMIN), are following through on the letter or intent signed on Nov. 2, 2009, and are discussing the development of a joint venture (JV) through a new entity to operate in the water desalination industry.

The purpose of the JV would be to build and install a commercial desalination plant utilizing Centriforce Technology's design. According to Centriforce, because of the efficiencies of Centriforce Technology's technology, the JV would be in a position to profit from operating the plant and selling potable water under contract with municipalities and industrial clients.

"Joining forces with AMIN to create a joint venture would accelerate Centriforce's schedule for installing a commercial desalination production plant and producing a continuous revenue stream," said Matthew Schulman, president of Centriforce. "We look forward to finalizing the positive discussions with AMIN and hopefully reach the next phase of our project.”

The potential JV has begun evaluating executive candidates for CEO and other top management positions. However, until a definitive JV agreement and structure has been formally agreed upon, no employment agreements will be offered.