QED Connect and Sofame Technologies Sign Joint Venture Agreement
June 01 2010 - 9:00AM
QED Connect Inc. (Pink Sheets:QEDN), a New York Corporation, today
announced that it entered into the Joint Venture Agreement with
Sofame Technologies, Inc. (TSX-V:SDW), a Montreal, Canada based
company ("Sofame").
The Joint Venture (JV) will form a US based company for the
purposes of marketing, distributing, selling and supporting SOF's
products within the United States. The JV will also
establish strategic relationships and utilize the contacts of QED
to assist the business development efforts and other corporate
needs of Sofame in the United States.
John Gocek, Chief Operating Officer of Sofame, said, "The
formation of the Joint Venture with QED is the first phase in our
long term plans to establish Sofame as a major player in the
engineering and manufacturing of high-efficiency direct-contact
industrial hot water systems in the United States."
Tom Makmann, CEO of QED Connect, stated, "QED is continuing to
move forward on our plans to invest and partner with promising,
developing businesses, and sees the joint venture as a significant
step toward achieving our goals and increasing shareholder
value."
Formation of the Joint Venture Company is expected to be
finalized this quarter subject to approval by the respective Boards
of Directors.
About QED Connect, Inc.
QED Connect, Inc. is a New York corporation which makes
acquisitions, investments, and enters into strategic business
partnerships. The Company seeks businesses with strong
potential which QED can assist in achieving their plans and
realizing their maximum potential. QED maintains the goals of
portfolio expansion and entry into various market
segments. It is QED's intention to help its partners
and subsidiaries realize growth, and that growth would, in turn,
enhance QED's ability to increase shareholder value.
About Sofame Technologies Inc.
Sofame Technologies Inc. custom engineers and manufactures
unique, high-efficiency direct-contact industrial hot water systems
which extract up to 99 percent of heat from flue gases depending on
the application, and return the energy in the form of
high-temperature hot water or pre-heated make-up air. Sofame's
products help hospitals, food processing plants, universities,
central heating plants, utilities and many more large energy
consumers to significantly reduce fuel costs and greenhouse gas
emissions. Using world-leading, patented green technology, Sofame
serves industrial, institutional and commercial markets through a
network of dedicated engineering representatives. For more
information, visit www.sofame.com.
Safe Harbor
Statement
Certain statements in this press release that are not historical
facts are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements
may be identified by the use of words such as "anticipate,"
"believe," "expect," "future," "may," "will," "would," "should,"
"plan," "projected," "intend," and similar expressions. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of QED Connect, Inc., (the
"Company") to be materially different from those expressed or
implied by such forward-looking statements. The Company's future
operating results are dependent upon many factors, including but
not limited to the Company's ability to: (i) obtain sufficient
capital or a strategic business arrangement to fund its expansion
plans; (ii) finalize the joint venture agreement with Sofame
Technologies, Inc., (iii) build the management and human resources
and infrastructure necessary to support the growth of its business;
(iv) competitive factors and developments beyond the Company's
control; and (v) other risk factors.
CONTACT: QED Connect Inc.
Tom Makmann, CEO
(603) 425-8933
info@qedconnect.com
Sofame Technologies Inc.
John Gocek, COO
(514) 523-6545 x-200
john.gocek@sofame.com
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