MONTREAL, Aug. 31 /CNW Telbec/ - Sonomax Technologies Inc. (SHH:TSX Venture Exchange) is pleased to announce that it has signed a Term Sheet with Brazil based Solar Ear. Under the terms of the agreement, Sonomax will adapt it's V4 earmold so that it can be paired with Solar Ear's BTE (Behind-the-ear) hearing aids and supported by Solar Ear's unique solar chargers. The hearing aids resulting from the marriage of these leading edge technologies will be for distribution throughout the developing world.
Solar Ear Brazil is a hearing aid company that manufactures, assembles and distributes the first digital solar rechargeable hearing aid. In addition to Brazil, Solar Ear has operations in Botswana, Mexico and Jordan, with plans to add six more facilities in strategic geographical locations which will be able to service on a duty free basis over 60 countries and 1.2 billion consumers.
Said Howard Weinstein, Solar Ear's founder, "All products are assembled by young employees who are deaf. By developing practical technologies for the region and creating employment, training and education programs, Solar Ear is a sustainable professional enterprise that affects the way civil society views the skills of people with disabilities."
Mr. Weinstein added, "The incorporation of a mass producible, affordable, instant custom earmold into our solution could very well be the game changer that makes possible the delivery of affordable hearing aids to the millions of hearing impaired people in the developing world who need them. The World Health Organization (WHO) estimates that there are 278 million hearing impaired people in developing countries and that there is a need for 35 million affordable hearing aids per year in this market."
Said Sonomax CEO Nick Laperle, "Getting started in this grossly under serviced market with a forward thinking Social Entrepreneur like Mr. Weinstein represents a wonderful opportunity for Sonomax. Solar Ear's solar charged hearing aids are already significantly less expensive than those being sold in the developed world. Bringing the V4 earmold into the equation will translate to affordability for the millions who so desperately need them."
About Sonomax Technologies:
Sonomax Technologies Inc. is a leading researcher, developer and licensor of in-ear technologies with over 50 patents and trademarks worldwide. Sonomax is dedicated to providing in-ear technologies that optimize fit, comfort, protection, and sound enhancement. The latest "custom-fit by SONOMAX" V4 features an earpiece you can easily and permanently fit to the exact shape of your ear in minutes. This breakthrough makes it possible to customize virtually any in-ear product on a mass scale, such as Bluetooth(TM) headsets, MP3 earphones, military communication earpieces, hearing protectors and hearing aids. The V4 Intelligent Fitting System bridges the gap between consumer's ears and countless OEM products, making it the dominant technology for a wide range of in-ear product applications.
This news release contains statements that constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable securities legislation. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of Sonomax Technologies Inc. ("Sonomax"). Actual results or achievements may differ materially from those expressed in, or implied by, this forward-looking information. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that Sonomax will derive therefrom. Forward-looking information is based on the estimates and opinions of Sonomax's management at the time the information is released and Sonomax does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. 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.
SOURCE Sonomax Technologies Inc.
For further information: For further information: Nick Laperle, President & CEO at Sonomax, T. 1-514-932-2674 Ext 2229, email@example.com, www.sonomax.com; Howard Weinstein, President & Founder, +55 11-7674-1382, firstname.lastname@example.org, www.solarear.com.br