Agreement opens the Canadian market to Sonic's proven cost-effective
technology
TSX Venture Exchange Symbol: SNV
VANCOUVER, Dec. 4 /CNW/ - SONIC Technology Solutions Inc. ("SONIC" or "the Company"; TSX-V:SNV) and Quantum Murray LP ("Quantum Murray"; an operating partnership of Newport Partners Income Fund TSX:NPF.UN-T) announced today that they have now closed the Agreement of Lease, Acquisition and License to deploy the Company's Sonic Treatment System for the remediation of PCB contaminated soils within Canada, previously-announced on October 11th, 2007.
Closing this agreement allows Sonic to focus on exploiting its other applications in the energy and industrial verticals whilst established operating partners help provide license revenues.
About SONIC
SONIC develops and markets Sonoprocess(TM) technologies based on the Company's core sonic generator technology in the energy, environmental and industrial sectors. The Sonic Treatment System for the remediation of PCB contaminated sites and wastes has been licenced internationally. Sonic also has a joint venture with PetroSonic Energy Systems Inc. and recently entered into a collaboration agreement with Shell Canada Energy Ltd. for the development of improved oil sands processes. Sonic also trades on the Frankfurt stock exchange in Europe under the trading symbol FDZ.GR. www.SONICTSI.com
About Quantum Murray
Quantum Murray LP is a leading full service, national decommissioning and environmental remediation firm. It was formed in December 2006 by the merger of Quantum Environmental and Murray Demolition. Quantum Murray LP specializes in hazardous materials abatement, site decommissioning and remediation, and the treatment of soil, water and other waste materials. Quantum is a nationally recognized leader in the clean-up and rehabilitation of commercial and industrial sites and facilities. Quantum Murray LP is owned by its management team and by Newport Partners Income Fund (TSX:NPF.UN-T), a publicly-traded fund that invests in well-established private businesses. www.newportpartners.ca
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This release contains statements that are forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.