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Energy Visions Inc. Reports on Progress With Its Restructuring and Other Corporate Events
Publication date: 26-April-2004
Source: Energy Visions
Energy Visions Inc. ("EVI") (TSX-V: EVI.S) (OTC BB: EGYV) reported today on the restructuring of its U.S. listing and other corporate activities. 

On November 6, 2003 EVI announced that it had entered into an agreement with the intention to restructure EVI in a manner which would terminate its current NASD OTCBB listing but provide shareholders of EVI with an equal number of equity shares of a successor company which would trade on TSXV. "We are working out the final details of this transaction with Lions Petroleum Corp., the eventual purchaser of the EVI NASD OTCBB listing," stated Wayne Hartford, CEO of EVI. "We are hopeful that this can be completed in the near future, at which time we will provide additional information to our shareholders," said Hartford. 

Further to EVI's March 9, 2004 press release concerning the Cdn. $227,000 extension of its Flowing Electrolyte Direct Methanol Fuel Cell joint development project with Alberta Research Council Inc. ("ARC"), EVI announces that it has issued 927,308 common shares to Alberta Research Council Inc. ("ARC") in respect of R&D services provided by ARC related to EVI's Direct Methanol Fuel Cell project in Calgary, Alberta. 169,742 of such common shares were issued respecting Cdn $214,503 of R&D services through February 29, 2004 (at Cdn $1.2637 per share) and 313,899 were issued respecting Cdn. $94,170 of debt due to ARC (at Cdn $0.30 per share). Such shares were issued with hold periods that expire August 20, 2004. In addition, 443,667 shares were issued into escrow, at Cdn $0.30 per share, in respect of Cdn $133,100 of R&D services to be provided by ARC in the period through July 31, 2004. The hold periods respecting such shares, when they are released from escrow, will be 4 months plus one day from the dates of release. 

EVI also announces that Ms. Karen Beliveau, and Messrs W. Bruce Clark, Peter F. Searle and Ronald K. Braun have resigned from the Board of Directors effective April 22, 2004. Mr. Searle will remain with the Company as Chief Financial Officer. "On behalf of the Board of Directors and the Company I would like to thank all of these individuals for their dedication and efforts during their directorship with EVI," stated Wayne Hartford. "We anticipate nominating new directors to the board once our restructuring is complete." 

About Energy Visions Inc.: EVI develops and commercializes advanced battery and direct methanol fuel cell technologies and products. EVI recently acquired a major interest in Pure Energy Inc. whose subsidiary, Pure Energy Visions Inc., manufactures and markets rechargeable and single-use alkaline batteries globally. These products are sold under the "Pure Energy", XL™ and "Pure Power" labels and to private label customers worldwide. The company also markets several battery operated radios and recently introduced the "Pure Power Saver" emergency kit. Pure Energy products can be purchased at several leading retailers including Wal-Mart, Radio Shack, Shoppers Drug Mart and Western Grocers. 

Statements in this release, other than statements of historical fact, may be regarded, in certain instances, as "forward looking statements" pursuant to Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934, respectively. "Forward looking statements" are based on expectations, estimates and projections at the time the statements are made that involve risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. There can be no assurance that such statements will ever prove to be accurate and readers should not place undue reliance on any such "forward looking statements" contained herein. 

Neither the TSXV nor the NASD OTC Bulletin Board have reviewed or accept responsibility for the adequacy or accuracy of this release. 

For further information please contact Stephen Meldrum at (905) 764-9457 ext 254 or Dr. Phil Whiting at (905) 764-9457 ext 249. The website of Energy Visions Inc. is http://www.energyvi.com. The website of Pure Energy Visions Inc. is http://www.pureenergybattery.com

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