Smartcool Systems Inc. announces that it has commenced preliminary discussions with Abbotly Technologies Pty Ltd. of Australia for the acquisition of the assets of that company, including the intellectual property associated with the Energy Saving Module (the "Product"), a microcomputer digital optimization device specifically designed to reduce electricity consumption of refrigeration and air conditioning compressors.

 

Abbotly Technologies Pty Ltd. granted the North American distribution rights for the Product to Abbotly USA, who in turn granted the distribution rights for Canada and the states of New York, Arizona, Nevada, New Hampshire, Rhode Island, Massachusetts, Connecticut, Colorado, New Mexico, Vermont, Maine and New Jersey (north of Interstate 105) to SmartCool Systems Inc.

These discussion with Abbotly Pty Ltd are preliminary, subject to due diligence, obtaining necessary financing, and reaching an agreement with Abbotly PTY Ltd. Any transaction will be subject to the approval of the TSX Venture Exchange.

About Smartcool

Smartcool Systems Inc. (TSX-V: SSC) delivers cutting edge energy efficiency and cost reduction solutions for businesses around the world. The ESM™ and ECO3™ are Smartcool’s unique retrofit technologies that reduce the energy consumption of compressors in air conditioning, refrigeration and heat pump systems. Energy savings achieved by the ESM™ and ECO3™are quantifiable and the products can qualify for government and utility rebates. The technology has been validatedby rigorous third party testing, government organizations and private business installations.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

 

Investor Inquiries

Mike Kordysz
Tel: +1 604 904 8632
mike.kordysz@smartcool.net
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