ZENN Motor Company Comments on Recent Trading Activity
TORONTO, ONTARIO--(Marketwire - April 21, 2009) - ZENN Motor Company Inc. (TSX VENTURE:ZNN)(the "Company") has been requested by the Investment Industry Regulatory Organization of Canada (IIROC) to comment on the recent increased trading activity in the Company's common shares on the TSX Venture Exchange. The Company is not aware of any material change in its business or affairs that has not been announced that would account for the recent increase in volume or price. Progress continues to be made on the initiatives outlined by management at the Company's annual shareholders' meeting held on March 25, 2009 including, working with governments to obtain funding or subsidies for the Company's products, obtaining a market-leading energy storage solution for the Company's products and concluding definitive arrangements with an OEM for the manufacture of the cityZENN and LSV host vehicle platforms however, none of these initiatives have advanced to a point where public disclosure is warranted. If and when any of these initiatives progresses to a point where a public announcement is warranted, the Company intends to immediately issue an appropriate news release.
ABOUT ZENN MOTOR COMPANY
ZENN Motor Company, Toronto, Canada, is dedicated to being the global leader in zero emission transportation solutions for markets around the world. Driven by quality, ingenuity, and a philosophy of social responsibility, the ZMC team is redefining what is possible in both urban and business fleet transportation.
The ZENNTM (Zero Emission No Noise) provides an excellent alternative transportation solution for environmentally conscious drivers who want to dramatically reduce their operating costs and free themselves from dependence on oil. The current ZENN low speed vehicle is perfect for urban commuters and commercial fleets such as resorts, gated communities, airports, college and business campuses, municipalities, and parks and is sold through a network of retailers across the United States and directly by the Company in Quebec.
The planned commercialization and implementation of the ultra capacitor being developed by ZENN Motor Company's strategic partner EEStor, Inc., is expected to enable future ZMC vehicles and ZENNergyTM drivetrain powered vehicles to travel at speeds and distances similar to internal combustion powered vehicles but at a fraction of the cost and with zero emissions!
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.