Date: Jun 15, 2010 Source: PR Newswire (
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Sonomax Technologies Inc. (SHH:TSX Venture) is pleased to announce that it has signed its first licensing deal whereby its groundbreaking V4 technology has been licensed to Creare Inc. (Creare) for use in a Research and Development (R&D) project being executed on behalf of the United States Navy. If the synergy of Creare and Sonomax produces a product or technology that can be commercialized, then it is agreed that both parties will work together to explore opportunities to jointly license the combined technology.
This R&D license has been fixed at $10,000 USD and has a term of one year.
Nick Laperle, President and CEO of Sonomax Technologies Inc., commented that, "we are absolutely thrilled that our first licensing arrangement is with such a competent and established R&D group, like Creare. What is more, our relationship with them goes back over two years and they have shown themselves to be a good and helpful organization that has more than once offered guidance and advice to us as we build our licensing business. I believe that we will benefit immensely from their experience. I look forward to the synergies our respective technologies and personnel can create together.
About Creare Inc.
Since 1961, Creare (www.creare.com) has provided engineering research, development, and consulting services to an international customer base, gaining a reputation for creating innovative solutions to the most challenging of engineering problems. Core areas of expertise include fluid dynamics and heat transfer, cryogenics, robotics, data systems, advanced materials, control systems, and aerospace and biomedical engineering.
About Sonomax Technologies Inc.
Sonomax (www.sonomax.com) is a leader in the research, development and licensing of in-ear technologies. With over 50 patents worldwide, Sonomax pioneering innovation includes instant custom-fitting earpieces that deliver the most comfortable, protective and sound-enhancing experience in the world, as well as software driven solutions for validating earpiece performance. The latest V4 Self-Fit(TM) System offers our OEM, ODM and aftermarket clients a broader range of opportunities in customized earpieces for the Consumer, Industrial, Military and medical markets.
This news release contains statements that constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable securities legislation. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of Sonomax Technologies Inc. ("Sonomax"). Actual results or achievements may differ materially from those expressed in, or implied by, this forward-looking information. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that Sonomax will derive therefrom. Forward-looking information is based on the estimates and opinions of Sonomax's management at the time the information is released and Sonomax does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
Neither the 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.