MONTREAL, Jan. 27 /CNW Telbec/ - Sonomax Hearing Healthcare Inc. (TSX
Venture: SHH) announced today that it has sold the rights and associated
assets for its proof-of-performance software system, for use in testing
hearing protection devices, for the sum of $2,000,000 USD to 3M. The software
is currently sold under the brand name SonoPass(R) by Sonomax and under the
brand name E-A-Rfit(TM) by Aearo Technologies, a wholly owned subsidiary of
3M has also committed to purchasing an additional $350,000 USD of Sonomax
A perpetual royalty-free license from 3M allows Sonomax to continue to
use the software to support all its core technologies. These include:
SonoCustom hearing protectors for a range of industrial applications and other
uses; SOUNDCAGE, the custom fit earphones for use with MP3 players; and
SonoComm, the custom fit earpiece used for two-way radios and other custom fit
in-ear devices. Sonomax will continue to focus on its core competency of
leveraging the expansion technology custom earpiece for various applications.
Dan Casey, CEO of Sonomax, said "The injection of new non-dilutive cash
will go a long way towards firmly establishing the new Sonomax."
Sonomax Hearing Healthcare Inc. is a leader in the development and
manufacturing of intra-ear technologies. The company's patented custom-fit,
instant-fit expansion earpieces deliver a perfect fitting earpiece with
guaranteed acoustic seal every time using the proof-of-performance software.
Building on its technology leadership in hearing protection, Sonomax has
expanded the applications for its technologies into high growth consumer
products such as earphones for music and entertainment and earpieces for other
applications such as Bluetooth(TM) headsets and hearing aids.
This news release contains certain forward-looking statements that
reflect the current views and/or expectations of Sonomax Hearing Healthcare
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.
For further information:
For further information: Dan Casey, CEO, Sonomax Hearing Healthcare
Inc., (514) 932-2674, DCasey@sonomax.com