TSX Venture Exchange Symbol: SNV
CALGARY, April 8, 2014 /CNW/ - Sonoro Energy Ltd. ("Sonoro" or the "Company") (TSX-V: SNV) is pleased to announce that as a result of its continued process development and optimization of its sonic reactor technology, the Company has been awarded patents in Canada and South Africa for its SonoAsh fly ash upgrading technology (the "SonoAsh Technology") through its wholly-owned subsidiary, SonoAsh LLC ("SonoAsh"). Patent applications for the SonoAsh Technology are also pending approval in the U.S., Europe, Russia, South Korea and Taiwan, where further review is ongoing, and the Company anticipates positive outcomes in these jurisdictions.
The SonoAsh Technology is applied to low value waste fly ash sources, removing undesirable components such as mercury, carbon and ammonia and significantly reducing the average particle size. The SonoAsh Technology allows SonoAsh to produce a final high value fly ash product as a Portland cement replacement in concrete manufacturing without compromising competitive concrete performance properties. These performance claims have been confirmed by third-party analysis using a global cement producer.
The Company has tested and optimized the SonoAsh Technology on various Class F fly ash sources ranging from 4-12% carbon and 100-250 parts per billion ("ppb") mercury and this technology has consistently produced an upgraded high value fly ash product with <1% carbon and below detection levels of mercury (<20ppb).
While the Company's main focus remains bitumen resource development, its dedicated technology team has developed additional intellectual property and patents utilizing its current sonic reactor technology platform (the "Sonic Reactor Technology") which excludes any technologies related to solvent de-asphalting of heavy oil. The Company believes it will obtain value from these applications and is currently undertaking and pursuing projects and partnerships to accomplish this. The Company is engaging with select companies on various applications utilizing the Sonic Reactor Technology for paid industrial pilot testing with a view towards commercial rollout. The Company is excited about the recent developments with the Sonic Reactor Technology and the new applications and testing programs underway.
Sonoro is an international unconventional resource exploration and development company. Our current focus is a pure play on bitumen/asphalt resource exploration and development in Iraq. Sonoro continues the evaluation of resource opportunities in Iraq and under our asphalt license agreement in the Salah ad Din Province while we pursue final Federal approvals.
Certain statements in this news release may constitute "forward-looking information" ("forward-looking statements") within the meaning of applicable Canadian securities laws. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "estimate", "potential", "could", "ongoing", "prospective", "expected", "believes", "towards" and similar words suggesting future outcomes. Specific forward-looking statements in this press release include but are not limited to comments related to the likelihood of obtaining patent application approvals for the SonoAsh Technology in certain jurisdictions and the anticipated value of certain applications that utilize the Sonic Reactor Technology. By their nature, forward-looking statements are based on current expectations regarding future events that involve a number of assumptions, known and unknown risks, and uncertainties. Actual results, performance or achievements of Sonoro, or the industry, may vary materially from what is expressed or implied by such forward-looking statements.
These forward-looking statements are not guarantees of our future performance and are subject to risks, uncertainties and other important factors that could cause our actual performance to be materially different from what we project. These risks and uncertainties include, but are not limited to: (1) risks associated with obtaining, maintaining and the timing of receipt of regulatory approvals, permits, and licenses; (2) uncertainties related to financing of Sonoro's research and development activities, commercialization activities, and continued operations through access to capital markets; (3) the risk of volatile global economic conditions; (4) continued political stability; (5) continued support from the local communities, (6) operational risks in development, exploration and production delays or changes in plans with respect to exploration or development projects or capital expenditures; (7) the uncertainty of resource estimates, geological interpretations, estimates and projections in relation to production, costs and expenses, and health, safety and environmental risks; (8) the continued ability to obtain qualified staff and equipment in a timely and cost efficient manner; (9) the risk of commodity price and foreign exchange rate fluctuations; (10) risks associated with the implementation of new technology; and (11) ability to develop, commercialize and market applications using its intellectual property.
Given these uncertainties, you should not rely on forward-looking statements. These forward-looking statements also represent our estimates and assumptions only as of the date that they initially were made. We expressly disclaim a duty to provide updates to any forward-looking statements, and the estimates and assumptions associated with them, to reflect events or circumstances or changes in expectations or the occurrence of anticipated events after the date they initially were made, except and to the extent required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Service 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: Sonoro Energy Ltd.
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