LAS VEGAS, NV — (MARKET WIRE) — 10/26/10 — Dakshidin Corporation (PINKSHEETS: DKSC) is pleased to announce that an agreement in principle has been reached with RESTEC LLC which will allow the company to continue advanced negotiations currently in progress.
“This is a very busy and exciting time for us,” stated John Alexander van Arem , acting President of Dakshidin Corporation . “This agreement is extremely important for us and it should be the springboard Dakshidin has been waiting so long for. It could also be instrumental in moving us forward with other ongoing discussions that are in various stages of completion. We could not be happier!”
He continued, “Not only does this clear the way for us to continue and complete present negotiations but it also opens up several other avenues that we are interested in pursuing.”
RESTEC LLC holds patents on the only proven low wind-speed water pumping windmills currently available worldwide. Independent tests have shown that this technology is more than twice as efficient as, and significantly more cost effective than, traditional windmills. Furthermore, because they are able to operate efficiently in wind-speeds as low as 4mph, they can be utilized in areas where traditional windmills simply cannot function.
Mr. van Arem further stressed that, as outlined in a previous press release, this will have no impact on the number of shares outstanding.
Dakshidin Corp will continue to update shareholders as events unfold.