Free Energy International Inc. Announces Distribution Agreement
VANCOUVER, Aug. 25 /CNW/ - Free Energy International Inc. (the "Free Energy" and/or the "Company")(TSXV: FFX) today announced the Company has entered into a distribution agreement with Pacific Applied Systems (Pacific System). The distribution agreement encompasses the sale and distribution of the Company's Snow Melt Geo Thermal Heating Product (Thermal Heating Product). Pacific System is an affiliate of HVAC Systems and Solutions Ltd. (HVAC).
In conjunction with the distribution agreement, Pacific System has made an initial order of two hundred (200) snow melt rods which will be incorporated into the Company's Thermal Heating Product. The Company anticipates revenue of approximately $50,000 on this initial order.
"The distribution agreement represents a significant step for the Company in establishing a distributor of the Company's Snow Melt Geo Thermal Heating Product" said Alf Sanderson, the Executive Chairman of Free Energy. "Pacific System has targeted initial installs in Richmond & Whistler B.C. as well as Colorado and Washington State."
"The distribution agreement and initial order are the first step in the implementation of an aggressive sales and marketing program envisioned by the Company" said Dean Bethune, Free Energy's President and CEO. "The Company's business model is premised upon developing innovative products utilizing proprietary technology then leveraging the distribution networks of successful companies like HVAC.
The Snow Melt Geo Thermal system involves a series of L-shaped rods containing the non-toxic super conducting material to be placed vertically to a depth of 30 to 35 feet below the surface to tap into the constant mild temperatures below and bring heat continuously to the surface. The natural heat will protect a driveway or sidewalk from snow and ice in temperatures down to minus 10 Centigrade.
About HVAC Systems & Solutions Ltd.
HVAC Systems & Solutions has been in operation since 1999, providing innovative heating, ventilation, and air-conditioning solutions for commercial, industrial and residential applications. The Company has grown dramatically since its inception in 1999 and is currently the exclusive agent for York Engineered Systems Group for British Columbia.
About Free Energy International Inc.
Free Energy International Inc. is a British Columbia corporation with its head office in Vancouver, British Columbia. The Company is listed on the TSX Venture Exchange as a Tier 2 company. The Company has a total of 13,102,526 common shares issued and outstanding, of which 7,056,000 shares are subject to escrow arrangements.
Additional information on Free Energy may be found on SEDAR at www.sedar.com or the Company's website at www.freeenergysolutions.ca.
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.
Forward-Looking Statements: Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed 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.
For further information:
Alf Sanderson, Executive Chairman | Dean Bethune, President & CEO | |
Phone: (604) 657-5638 | Phone: (778) 840-3325 | |
Email: [email protected] | Email: [email protected] |
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