Business
SONIC confirms Board appointments
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About this update from Sonoro Energy Ltd.
[{"type":"text","content":"\n\n\n\n/NOT FOT DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n\n\nTHE UNITED STATES/\n\n\nTSX Venture Exchange Symbol SNV\n\n\nVANCOUVER, June 20 /CNW/ - SONIC Technology Solutions Inc. ("SONIC" or\n"the Company") welcomes Dr. David Kahn and Dr. James Hill to the Board of\nDirectors of the Company, following election at yesterday's Annual General\nMeeting held in Vancouver. As previously announced, Dr. Kahn is directly\nassisting the Company in the development and commercialization of its heavy\noil upgrading processes through the operations of PetroSonic Energy Systems\nInc. that he helped found with SONIC.\n\n\nWith his appointment to the Board Dr. Kahn will now also provide the\nCompany with strategic direction on all SONIC's opportunities. Dr. Hill, who\nwas also appointed as President of the Company, has been instrumental in\nleading the development of the Company's initiatives in the energy and other\nsectors.\n\n\nAdam Sumel, CEO of SONIC, commented "These appointments reflect the\nfuture direction and focus of the Company and we will continue to build our\nmanagement team in the coming months as development milestones are achieved."\n\n\nIn relation to these appointments the Company has issued 600,000 stock\noptions exercisable at $0.30 per share. The terms and conditions of the grant\nare subject to the approval of the TSX Venture Exchange.\n\n\nThe Company also confirms that, in connection with its recently completed\nprivate placement announced on June 13, 2008, Sonic agreed to pay an arms'\nlength third party a finder's fee on a portion of the non-brokered\nsubscriptions under the offering in the amount of Cdn.$10,000, which fee\nrepresents 5% of the subscription proceeds sourced by such third party.\n\n\nAbout SONIC\n\n\nSONIC develops and markets Sonoprocess(TM) technologies utilizing sonic\nenergy to create more sustainable processes. PetroSonic Energy Systems is\ndeveloping heavy oil processes and SonoOil is developing improved oil sands\nprocesses. Sonic Environmental Solutions markets the Sonic Treatment System\nvia licenced soil remediation partners, and SONIC is also developing\nopportunities related to bio-energy, bio-waste, and materials processing.\n\n\n Sonoprocess(TM) Technologies\n - Sustainable - Efficient - Economic -\n\n\nThe TSX Venture Exchange has n...