ILI Imagine Lithium Inc

ILI Technologies (TSX VENTURE:ILI) is pleased to announce that its 100% wholly-
owned Mexican subsidiary Cdn Oilfield Technologies & Solutions S. de R.L de C.V.
("COTS") has entered into a Memorandum of Understanding ("MOU") with an
established Mexican construction company (the "Company") to provide financial
and advisory services to arrange financing on a project by project basis in
exchange for revenue sharing terms. The Company is contracted to Schlumberger,
the largest oil and gas service company in Mexico, under a master agreement
("Master Agreement") with Pemex for the construction of infrastructure in urban
and suburban areas valued up to 812 million pesos (approximately 65 million
CDN$). Under the terms of the Master Agreement, all aspects of the project are
fully insured and securitized with a performance bond. 


COTS will source funding on behalf of the Company, for an initial project valued
at 79,632,625 million pesos (approximately 6.5 million CDN$) for the
construction of infrastructure for an onshore platform and a right-of-way access
road for Pemex. The required funding under the MOU is estimated at 40 million
pesos (approximately 3.3 million CDN$) and the release of funds to the Company
will be allocated under a controlled monitored process to fund project
management costs, labour, the purchase of materials and construction equipment.
COTS will earn 50% of the net income from the initial project. COTS will retain
the first right of refusal for future funding for the remainder of the services
to be provided by the Company to Schlumberger and Pemex under the Master
Agreement.


The project is expected to commence in May with completion in approximately 70
days after the start of the project. Re-payment of the financing to COTS is
anticipated to be completed approximately 60 days after the completion of the
project under a direct assignment agreement between COTS and the respective
parties.


ILI is currently reviewing financing strategies to secure non-dilutive capital
under the MOU. The MOU is conditional on financing and discussions are currently
underway with key capital sources. Export Development Corporation Canada (EDC)
is listed as an approved source of financing in the Master Agreement. 


Phil D'Angelo states, "This is a great window of opportunity for COTS and one
that affords alliances with credible companies in Mexico. There are multiple
projects currently under review and ILI is pleased to be considered as a revenue
partner. It's important for COTS to diversify its business in Mexico and find
multiple sources of revenue with low business risk and exposure. The opportunity
before us is solid as it comes with full securitization components attached to
the projects. COTS has and continues to align itself with credible companies, to
assist in the completion of contracts awarded to them. We now offer an ideal
platform to enter the Mexico energy sector". 


Reader Advisory

Except for statements of historical fact, this news release contains certain
"forward-looking information" within the meaning of applicable securities law.
Forward-looking information is frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate" and other
similar words, or statements that certain events or conditions "may" or "will"
occur. In particular, forward-looking information in this press release
includes, but is not limited to, anticipated sales of the company and completion
of installation projects . Although we believe that the expectations reflected
in the forward-looking information are reasonable, there can be no assurance
that such expectations will prove to be correct. We cannot guarantee future
results, performance or achievements. Consequently, there is no representation
that the actual results achieved will be the same, in whole or in part, as those
set out in the forward-looking information.


Forward-looking information is based on the opinions and estimates of management
at the date the statements are made, and are subject to a variety of risks and
uncertainties and other factors that could cause actual events or results to
differ materially from those anticipated in the forward-looking information.
Some of the risks and other factors that could cause the results to differ
materially from those expressed in the forward-looking information include, but
are not limited to: general economic conditions in Canada and Mexico and
globally; industry conditions, governmental regulation, including environmental
regulation; unanticipated operating events or performance; failure to obtain
industry partner and other third party consents and approvals, if and when
required; the availability of capital on acceptable terms; the need to obtain
required approvals from regulatory authorities; stock market volatility;
competition for, among other things, capital, skilled personnel and supplies;
changes in tax laws; and the other industry and geographic specific risk
factors. Investors are cautioned that this list of risk factors should not be
construed as exhaustive. 


The forward-looking information contained in this news release is expressly
qualified by this cautionary statement. We undertake no duty to update any of
the forward-looking information to conform such information to actual results or
to changes in our expectations except as otherwise required by applicable
securities legislation. Investors are cautioned not to place undue reliance on
forward-looking information.


This press release shall not constitute an offer to sell or the solicitation of
an offer to buy nor shall there be any sale of the securities in any state of
the United States or any other jurisdiction outside of Canada in which such
offer, solicitation or sale would be unlawful. The securities have not been
registered under the U.S. Securities Act of 1933, as amended, or any state
securities laws and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of
the U.S. Securities Act of 1933 and applicable state securities laws.

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