SLUP Solucorp Industries Ltd (CE)

Solucorp Industries, Ltd. (OTC: SLUP) has entered into a licensing agreement with 1 Lane Technologies Corp. (OTC: OLNT) to exclusively utilize Solucorp๏ฟฝs patented Molecular Bonding System (MBS) technology to remediate heavy metals contamination on brownfield and redevelopment sites worldwide, with the exclusion of the following territories; North America, South America, Central America, Russia, and China. The MBS chemical reagent remediates heavy metal contamination including lead, mercury, arsenic, chromium, copper, zinc, nickel, selenium and cadmium. Solucorp will receive a total of $5 million ($1 million in cash and $4 million in stock) from 1 Lane in exchange for the exclusive licensing rights. The $1 million cash portion will be paid over the course of one year with the first payment due fifteen days from the signing of the agreement. The restricted shares will be issued within ten days of the signing of the agreement and will become free trading shares pursuant to Rule 144 of the Securities Act of 1934. In addition to the sales of the MBS chemical reagent needed for the remediation of the brownfield and redevelopment sites, Solucorp will also receive a one percent royalty from the sale or the redevelopment of any brownfield property after remediation. 1 Lane has commenced hiring a core staff made up of consultants and other key personnel experienced in land use, zoning, real estate development and environmental remediation. In addition, 1 Lane will also identify brownfield properties, raise capital sufficient to promote the marketing and sales of the MBS brownfield technology, and provide Solucorp with written quarterly sales, marketing, and performance reports. Solucorp will provide 1 Lane with technical assistance and other materials and information related to the MBS process deemed necessary to support 1 Lane๏ฟฝs efforts. ๏ฟฝWe are looking forward to once again using our MBS process to remediate brownfield properties,๏ฟฝ stated Noel E. Spindler, President of Solucorp๏ฟฝs Integrated Fixation System subsidiary. ๏ฟฝOur MBS technology was proven successful in this market with the cleanup of the former Ocean State Steel property located in East Providence, Rhode Island.๏ฟฝ About Solucorp Industries Ltd. Solucorp Industries Ltd., www.solucorpltd.com is a developer and provider of cost effective, permanent technologies for the remediation and prevention of hazardous heavy metal (including lead, mercury, arsenic, chromium, copper, zinc, nickel, selenium and cadmium) contamination. Solucorp is the owner of several patents and numerous additional patents that are pending. Solucorp Industries Ltd. has three wholly owned subsidiaries: Solucorp Industries, Integrated Fixation System Company, Inc., and WITS, Inc. The foregoing discussion contains forward-looking statements, which are based on current expectations. Actual results, including the outcome of demonstration results, timing and amount of revenues recognized, contracts awarded and performed and net income may differ due to such factors as: delays in payment on contracts due to dealings with governmental and foreign entities; fluctuations in operating costs associated with changes in project specifications; economic and other conditions affecting the ability of prospective clients to finance projects; and other risks generally affecting the financing of projects. Investors are cautioned to perform a proper due diligence and consult-licensed professionals prior to making an investment decision.