ILI Imagine Lithium Inc

ILI TECHNOLOGIES (2002) CORP. (the "Corporation") (TSX VENTURE:ILI). 

The Corporation is pleased to announce that it intends to complete a
non-brokered private placement to secure up to $2,500,000 from a private
placement of common shares at an issuance price of $0.10 per share. The net
proceeds from the private placement will be used for general working and
expansion capital purposes. 


USA Update 

ILI has formerly closed its office and ceased operations in Houston. All
inventory and assets have been relocated to Gillette. This move is in line with
our restructuring efforts to improve performance and reduce overhead for the
company. 


Mexico Update 

Further to the press release of, and inclusive of disclosure provided in its
MD&A of August 30, 2010, ILI is pleased to announce that its 100 percent wholly
owned subsidiary Cdn Oilfield Technologies and Solutions, S. de R.I. de C.V.
("Cots") is now fully compliant as a corporation in Mexico. Further to this
development, Cots has successfully secured all the certification requirements
for the marketing of its third party pipe products from the National State owned
Oil and Gas Company Pemex. As a result of this recent approval through its
proprietary specification (P.20730.02) issued September 2010, Cots is now in a
position to market its third party products and focus on sales. This marketing
initiative is targeted to diversify ILI's business and provide alternative
revenue streams thereby increasing shareholder value. 


Capital is required to promote the sale of products for which terms are now
being finalized. The company is waiting on the implementation of internal
procedures from Pemex prior to the authorized sale and distribution of its
product line to prospective clients. Once completed a formal procedure will be
in place to promote these products nationally. A marketing campaign is currently
underway. 


Phil D'Angelo states, "We are very pleased with the progress and developments to
date. The certification process in Mexico is timely often taking years to
accomplish. Cots, has completed the process in months from initiation to
completion. Anyone who understands how business is executed in Mexico knows this
is a major accomplishment. As a result of intensive marketing efforts new
relationships and new products had to be evaluated, accepted and certified for
use. ILI is now in a position to target new business opportunities as a result
of these efforts". 


ILI's focus through its 100 percent wholly owned subsidiary (Cots) in Mexico is
to establish third party relationships with companies and market their
technologies to Pemex. New technologies are a high priority to improve
efficiencies and performance. ILI is pleased to be part of this process. 


We seek safe harbour.

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