Companies Working Together Successfully to Develop and Optimize Value of
Sonomax R&D Pipeline
MONTREAL, March 14, 2013 /CNW Telbec/ - Sonomax Technologies Inc. (TSXV: SHH) is pleased to report that it is making significant progress
in adding to its pipeline of intellectual property and that the Company
is successfully expanding its relationship with ValueLink Holdings
Ltd., to bring its new technologies to market. ValueLink has been
working with Sonomax to validate the Company's existing portfolio of
intellectual property and during this process, Sonomax has reorganized
itself to focus directly on R&D initiatives. As the companies have
continued to work together, ValueLink has been able to generate
increasing interest in Sonomax IP and R&D across multiple industries.
Due to this increased interest and opportunities, Management has
decided to broaden its exclusive relationship with ValueLink by forming
a joint venture whereby ValueLink takes over the role of exclusive
sales and marketing partner, including maximizing the value of the
current patent portfolio.
In its expanded role, ValueLink will also work directly with Sonomax
Management to identify and validate market opportunities, develop
marketing strategies for Sonomax R&D, and negotiate with third parties
for the licensing, sale of or investment in Sonomax's future IP
development. Sonomax management has reported that ValueLink has
already begun introducing Sonomax R&D to industry leading OEMs and ODMs
around the globe, as well as to retail markets. The efforts focus on
Sonomax's SonoFit™ technology, but move beyond that singular effort to
position Sonomax as the premier R&D house focusing on in-ear products and technologies. In addition, the expanded relationship will allow Sonomax to become an
aggregator of other relevant in-ear technologies.
In the terms of the new agreement, ValueLink has deferred its retainer
and other normal forms of compensation and agreed to base its
compensation solely on performance. Furthermore, ValueLink has agreed
to structure the partnership so that it will not be dilutive to
existing shareholders as previously announced. According to Sonomax CEO
Nick Laperle, "Having a partner with the relationships and capabilities
of ValueLink has opened new doors and opportunities that position
Sonomax at the epicentre of hearing related research. Their
success-based fee structure enables us to invest our working capital
solely into R&D, where our greatest potential shareholder value
Laperle is also working directly with ValueLink management on a
day-to-day basis. "ValueLink has demonstrated the ability to help us
package and represent our intellectual property as well as position our
Company to benefit from further development," continued Laperle. "We
are seeing opportunities we would never have encountered on our own.
With our new partnership, we now have a team in the field opening new
markets and opportunities while we focus on our core competency,
research and product development."
Sonomax has recently rationalized its operations to focus exclusively on
supporting OEMs and ODMs and on continued Research & Development. The
result has been a reduction in overhead costs of almost $1,000,000 per
year. The core team in place along with Sonomax's outsourced
engineering, its university partner ETS and their related global
university partners will be capable of taking on projects of any size
on a variable cost basis.
Over the past several months, ValueLink has engaged in a multitude of
conversations and negotiations with world leading suppliers,
manufacturers and investors from the US, Europe and Asia on the
Company's behalf. Laperle continues, "Value Link has put us in the
position to obtain true value building upon the pioneering work that we
have done and expanded our marketplace far beyond our expectations for
many years to come."
About ValueLink Holdings Limited
ValueLink Holdings Ltd., 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. ValueLink works 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 develops technologies and leading edge products for
all in-ear applications. Its flagship advanced hearing protection
product prevents the #1 occupational disease, Noise Induced Hearing
Loss (NIHL). The Company offers OEM, ODM and aftermarket clients a
broader range of opportunities in customized in-ear solutions using
SonoFit for the Consumer, Industrial, 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.
SOURCE: SONOMAX TECHNOLOGIES INC.
For further information:
Sonomax Technologies Inc.
Nick Laperle, President & CEO
514-932-2674 ext 2229