Sonomax Reports Progress on the Sale of 51% of Its Intellectual Property
Portfolio to Value Link Holdings Ltd
MONTREAL -- February 19, 2013
Sonomax Technologies Inc. (TSX Venture: SHH) is pleased to report substantial
progress on its strategic investment agreement with ValueLink Holdings Limited
for the acquisition by ValueLink of a 51% ownership interest in Sonomax’s
intellectual property. The parties are now in the last stages of finalizing
the Definitive Agreement.
Sonomax has recently rationalized its operations to focus exclusively on
supporting OEMS and ODMS and on continued Research & Development. The result
is a reduction in overhead costs of almost $1,000,000 per year. The core team
in place along with Sonomax’s outsourced engineering and university partners
will be capable of taking on any size project on a variable cost basis.
About ValueLink Holdings Limited of Taiwan
ValueLink Holdings is a strategic Intellectual Property (IP) aggregator, with
a successful track record of commercializing and licensing its IP portfolios
to leading ODM and OEM companies in Asia and around the globe. ValueLinkworks
under contract with selective Fortune 500 companies and iconic brands related
to wireless devices, electronics products and accessories. It also facilitates
manufacturing and distribution using its vast IP portfolio.
Sonomax Technologies makes the world’s most advanced hearing protection
product to prevent the # 1 occupational disease, Noise Induced Hearing Loss
(NIHL). The Company offers OEM, ODM and aftermarket clients a broader range of
opportunities in customized earpieces using SonoFit for the Consumer, Military
and Health markets.
This news release contains certain forward-looking statements that reflect the
current views and/or expectations of Sonomax Technologies Inc. with respect to
its performance, business and future events. Such statements are subject to a
number of risks, uncertainties and assumptions. Actual results and events may
vary significantly. The TSX Venture Exchange has not reviewed and does not
accept responsibility for the adequacy or accuracy of this release.
Sonomax Technologies Inc.
Nick Laperle, 514-932-2674
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