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Focuses Core Business on Hearing Protection & Communications Products
Montreal, October 23, 2011 - Sonomax Technologies Inc. (TSX-V: SHH) is pleased to announce that its new Self-Fit hearing protection device, which has been 18 months in development, is now ready for pre-sales. The product will be showcased at the upcoming National Safety Council Congress & Expo in Orlando, Florida from October 22-25 as well as at The Safety Show in Sydney, Australia from October 23-25. Sonomax currently has orders for 10,000 units. In addition, Sonomax reports that Master Distributors for the new Self-Fit hearing protection device have been set up in the United States, Europe, Africa and Oceania.
“With 100,000 users, the industrial business is one in which Sonomax has gained an excellent reputation over the years, particularly in the mining sector with such notable clients as BHP Billiton in South Africa and Australia” said Nick Laperle, Sonomax’s President & CEO. Mr. Laperle added, “Sonomax will focus on selling hearing protection and communication devices to the mining, oil & gas and heavy industries in 2013.” To view the new Self-Fit hearing protection video, click here.
General Update
Licensing. Sonomax has engaged the services of MADE Global Brands to continue its previously-announced licensing initiatives. Under the terms of the new agreement, MADE will receive a 10% agent fee only on generated revenues. The agreement is success-based and allows MADE to earn up to a 19% equity interest in Sonomax based on the achievement of major milestones, subject to regulatory approval. This agreement will allow Sonomax to focus almost exclusively on hearing protection in 2013-2014.
Ongoing R&D. While R&D is still at the core of Sonomax’s long-term success, the Company will rely on its Research Chair partners at the École de technologie supérieure (ETS) in Montreal to advance the path towards the Bionic ear and other important initiatives in the product-development pipeline. Sonomax will seek development contracts from OEM and ODM customers to support its infrastructure and will focus on maximizing the value of its Intellectual Property portfolio.
About Sonomax
Sonomax Technologies makes the world’s most advanced hearing protection products to prevent the # 1 occupational disease, Noise Induced Hearing Loss (NIHL). The Company offers OEM, ODM and aftermarket clients a broader range of opportunities in customized earpieces using SonoFit for the Consumer, Military and Health markets.
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