TSX Venture Exchange Symbol: SNV
Under the Agreement EIG will purchase the Company's assets related to the Terra-Kleen process to extract persistent organic pollutants such as PCB from soils and other wastes. The purchase price payable by EIG will be
In addition, Sonic has agreed to grant EIG a 1 year exclusive option to license its PCB Sonoprocess(TM) with possible extensions based on project growth generation. Financial terms for this will be a function of the commercial terms acquired with each project to be based on a license fee and on-going royalty interests.
About Energy Invest Group
The Energy Invest Group markets and finances projects based on its access to proprietary technologies. Energy Invest Group also partners in the development of promising technologies related to environmental treatment, bio- and synthetic fuels, gas processing, crude oil cracking, tidal power, and enhanced oil recovery. Energy Invest focuses on industrial applications in
About SONIC
SONIC develops and commercializes improved processes based on its sonic reactor technology. The company's main commercial focus is its PetroSonic heavy oil upgrading process. SONIC collaborates on additional applications such as oil sands processing with Shell
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement except in compliance with applicable securities laws.
For further information: please contact Chief Executive Officer, Richard Wadsworth at: Tel: (604) 736-2552, Email: [email protected], www.SONICTSI.com
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