illumiCell reports second quarter 2007 results



    CALGARY, Aug. 15 /CNW/ - illumiCell Corporation (TSX-V: ICC), a
Calgary-based provider of local search services, today reported results for
its second quarter ended June 30, 2007.
    Total revenues for the quarter ended June 30, 2007 were $6,004 compared
to $118,138 for the same period in 2006. In 2006, the Company generated
non-recurring revenues from consulting activities. The net loss for the
quarter ended June 30, 2007 was $1,172,417, or $0.03 per basic share, compared
to a net loss of $191,033, or $0.01 per basic share, in the same period of
2006. The increase in expenditures for the second quarter was primarily
related to the addition of personnel, long-term vendors and consultants, as
well as continued investment in software development and IT and marketing
infrastructure. Investment in each area advances the company's expansion
across North America.

    
    -------------------------------------------------------------------------
    Summary of Quarterly Results of Operations - For Quarters Ended June 30
    -------------------------------------------------------------------------
                                                     2007            2006
    -------------------------------------------------------------------------
    Total Revenue                               $      6,004    $    118,138
    -------------------------------------------------------------------------
    Net loss from operations                    $ (1,172,417)   $   (191,033)
    -------------------------------------------------------------------------
    Loss per share - Basic                      $      (0.03)   $      (0.01)
    -------------------------------------------------------------------------
    Total assets                                $  2,267,657    $  1,491,001
    -------------------------------------------------------------------------
    Total liabilities                           $    753,607    $    135,121
    -------------------------------------------------------------------------
    Outstanding Shares - Basic                    45,622,451      31,928,850
    -------------------------------------------------------------------------
    Outstanding Shares - Fully Diluted            50,640,647      24,989,685
    -------------------------------------------------------------------------
    

    The Company signed two significant agreements during the quarter. The
first was the announcement of a multi-year joint marketing agreement with
Sympatico/MSN, making the IMLocal@msn.com service available to 15.4 million
unique users in Canada. The second announced a distribution agreement with
Idearc Media in the U.S. Under this agreement, Superpages.com's
performance-based advertisers will be featured over AOL's Instant Messenger
(AIM) network. The service is expected to be live in the U.S. in the fall of
2007.
    "We are certainly pleased that two of the largest directory publishing
companies in North America have signed agreements to provide their content on
our local search service," said John Lowe, CEO, illumiCell. "We feel that
this, coupled with distribution agreements with the two largest instant
messaging networks in their respective markets, positions us well as we
continue to execute upon our business plan."
    The Company also announced the appointment of John Shillington as Senior
Vice President, Operations and Technology, as well as the signing of
multi-year service contracts with Juval Lowy, recognized as 'a software
legend' by Microsoft, and Michele Leroux Bustamante, a Microsoft Regional
Director and MVP for Connected Systems, both of IDesign Inc., to serve as
technical advisors as the Company moves forward in the execution of its
business plan.
    Finally, a short-form prospectus was filed mid-June, the Offering closing
the following month. The Company plans to use the net proceeds of the Offering
to fund operations, marketing, development, acquisitions, for growth capital
and for general working capital purposes. The Offering was co-led by Versant
Partners Inc. and Wellington West Capital Markets Inc., with syndicate
participation by Jennings Capital Inc. and Raymond James Ltd.
    The Company also announces that James Harradence, Vice President
Marketing and Sales, is no longer with the company.
    "James leaves us with a strong team in place to continue the Company's
marketing and sales efforts as we move forward," said Lowe. "We wish him all
the best in his next endeavour."

    About illumiCell
    ----------------
    illumiCell Corporation (www.illumicell.com) has developed the first local
search service that works over Microsoft Windows Live(R) Messenger.
Headquartered in Calgary, AB, Canada, illumiCell trades on the TSX Venture
Exchange under the symbol ICC.

    Forward Looking Statements
    --------------------------
    Certain statements in this release, other than statements of historical
fact, may include forward-looking information that involves various risks and
uncertainties. There can be no assurance that such forward-looking statements
will prove to be accurate. Actual result and future events could differ
materially from those anticipated in such statements. These and all subsequent
written and oral forward-looking statements are based on the estimates and
opinions of management on the dates they are made and expressly qualified in
their entirety by this notice. The Company assumes no obligation to update
forward-looking statements should circumstances or management's estimates or
opinions change, other than as required pursuant to applicable securities
laws.

    illumiCell's Quarterly Financial Statements and Management's Discussion
and Analysis can be found on www.illumicell.com and www.sedar.com.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.





For further information:

For further information: Andrew Osis, CFO & Director, illumiCell
Corporation, (403) 313-3719, andrew.osis@illumicell.com; MEDIA CONTACT:
Margaret Glover-Campbell, Director, Communications, illumiCell Corporation,
(403) 313-3719, margaret.glover-campbell@illumicell.com

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