Sofame Bridge Loan Investors Extend Maturity Three Months

MONTREAL, July 3, 2012 /CNW Telbec/ - Sofame Technologies Inc. (TSXV: SDW), a leading manufacturer of environmentally efficient industrial water heaters and cost effective heat recovery systems for traditional boilers, is pleased to announce that investors in Sofame's bridge loan have agreed to extend the amended maturity date from June 28, 2012 to September 27, 2012. All terms of the bridge loan remain unchanged. The maturity of the $ 250,000 bridge loan has been extended several times since April of 2011, as Sofame continues to close new orders, deliver existing contracts and operate profitably with low overhead costs.

According to John Gocek, Sofame's President & CEO, "Our bridge loan investors - who come from our supply chain - remain confident in Sofame's ability to remain profitable with its industrial water heating product line. This is because Sofame has achieved three critical objectives since the financial meltdown of 2008 and subsequent severe recession, namely, a confirmed order book, low overhead costs and consistent profitability."

Natural gas prices have also declined almost 80% during recent years, but have recently stabilized and have begun to recover.  Sofame's value proposition - the value of energy efficiency - is dependent upon what customers are paying for their fuel.

Gocek added, "The investment community has been insisting on tangible results as a pre-condition to supporting Sofame in the future.  Now that critical operational goals have been achieved, the Board is considering new strategies to deliver value to existing shareholders.  One avenue under consideration is a highly focused acquisition strategy of profitable companies with complementary products in the same HVAC sector as Sofame. Our Board of Directors approved pursuit of this strategy, which has been in the works for over a year, during the last Board meeting on Thursday June 28, 2012.  Details on this initiative will be announced as new information becomes available."

Neither 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.


For further information:

John Gocek
President & CEO
(514) 523-6545 x200

Stone Communication Services
Jason Stone
Franca Pranovi
(416) 867-2526

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