MONTREAL, August 19th, 2010 - Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost efficient heat recovery equipment for traditional boilers, has filed third quarter financial reports ending June 30, 2010. Financial highlights of Q3 2010 were as follows:
MONTREAL, August 12th, 2010 - Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost effective heat recovery equipment, has reached agreement in principle to convert unsecured debentures to common shares. The transaction being negotiated so far includes $1,375,000 in total principal of the aggregate $1,525,000 of convertible debentures which were issued on May 16, 2007 and which matured on May 16, 2010. Other unsecured lenders are also considering converting their loans to common shares of Sofame, raising the total value of liabilities under consideration for conversion to equity to potentially about $2,000,000, or approximately one half of Sofame’s current liabilities. The minimum conversion price is $0.05 cents per share according to the rules of the TSX Venture Exchange, and the new shares will be subject to a mandatory 4-month hold period. The proposed transaction is subject to approval by the TSX Venture Exchange.
MONTREAL, July 16th, 2010 - Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost effective heat recovery equipment, has received a purchase order for over $1 million from Tozour Energy Services in Philadelphia to design and install a Sofame Steam Pump® at a well known university in New Jersey. The contract award is for a system that will reduce nitrogen oxide emissions. The Sofame Steam Pump® technology is unique because it significantly reduces NOx emissions while increasing energy efficiency and largely preserving the overall heating capacity of the boiler plant.
MONTREAL, June 22nd, 2010 - Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost efficient heat recovery equipment, has received a purchase order for $131,000 to retrofit a Hybrid Percomtherm® unit as part of an energy efficiency upgrade at a sugar refiner in collaboration with Consulgaz, a subsidiary of Gaz Métro Plus. This confirmed order arrives following $985,000 in new contracts signed in April and May 2010 as reported in Sofame’s Management Discussion and Analysis for the second quarter ending March 31, 2010, which is available at www.sedar.com.
MONTREAL, June 16th, 2010 – Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost efficient heat recovery equipment, is pleased to welcome three new members to its Board of Directors. Josh Costell, Pierre Grand’Maison and Aurelio Useche joined the Board at Sofame’s Annual Meeting held in Montreal last Friday. Robert Presser continues as Chairman, and Fahim Samaha, Sofame’s partner in Europe, also remains on the Board. Kebir Ratnani, a long-standing Sofame Board member, and Luc Mandeville, Sofame’s founder, both resigned from the Board to create opportunities for new members. Ratnani and Mandeville remain important shareholders, and Mandeville continues as Sofame’s Chief Technology Officer and a key engineering resource for major customer accounts.
MONTREAL, June 8th, 2010 – Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost efficient heat recovery equipment, announced today that it has entered into an Equity Line Facility in the amount of $10,000,000 with Dutchess Opportunity Cayman Fund, Ltd.
MONTREAL, June 4th, 2010 – Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost efficient heat recovery equipment, has received a commitment from a European customer valued at $250,000. The Letter of Intent, from a landfill gas to energy plant currently in operation, is expected to result in a purchase order within 60 days. The order is the first received by Sofame’s subsidiary in France, Sofame Europe SAS, which re-launched its operations 2008.
MONTREAL, June 1st, 2010 – Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost efficient heat recovery equipment for traditional boilers, has filed second quarter financial reports ending March 31, 2010. Financial highlights of Q2 2010 were as follows:
Q2 Net Sales of $183,057 compared to $289,363 for the same period in 2009
Gross Margin of ($49,292) (-26.9%) compared to $62,159 for Q2 in 2009 (21.5%)
Net Consolidated Loss of ($182,945) compared to ($708,548) for Q2 in 2009
EBITDA of ($34,133) compared to ($554,682) for Q2 in 2009
Fully diluted loss per share of ($0.0018) compared to ($0.0086) for Q2 in 2009
Note: These are the financial highlights only. Management`s Discussion and Analysis, the consolidated financial statements and notes thereto of Sofame Technologies Inc. for the second quarter ended March 31, 2010 are available on the SEDAR website at www.sedar.com.
MANCHESTER, NH – June 1, 2010 – QED Connect Inc. (otc: QEDN), a New York Corporation, today announced that it entered into the Joint Venture Agreement with Sofame Technologies, Inc. (TSX-V:SDW), a Montreal, Canada based company.
MONTREAL, March 25th, 2010 – Sofame Technologies Inc. (TSX-V: SDW) a manufacturer of high efficiency industrial hot water systems and cost effective heat recovery equipment, has announced an initial order from Canromex, S. de R.L. de C.V. of Monterrey, Mexico. Sofame will install a Percotherm® heat recovery system at a large paper based products plant near Monterrey.
MONTREAL, March 4th, 2010 – Sofame Technologies Inc. (TSX-V: SDW) reports on developments at the company in accordance with Policy 12-203 - Cease Trade Orders for Continuous Disclosure Default. At the present time, the company expects to file its audited annual financial statements, management discussion and analysis ("MD&A") and CEO and CFO certifications for the year ended September 30, 2009, by April 5th, 2010. Sofame is pleased to report that the audit is progressing well. Consequently to the delay in filing the annual reports for 2009, Sofame’s first quarter filings ending December 31, 2009 will also be delayed and filed shortly thereafter. A Management Cease Trade Order will remain in effect until all its filing requirements are met. In the event the audit is not completed within the delay, a general Cease Trade Order will be imposed. Since the current MCTO applies only to management and insiders, all other parties are permitted to freely trade in Sofame’s shares.
MONTREAL, February 18th, 2010 – Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost efficient heat recovery equipment, reports on developments at the company in accordance with Policy 12-203 - Cease Trade Orders for Continuous Disclosure Default. Under an extension of the January 28, 2010, filing deadline granted by Quebec’s Autorité des marchés financiers, Sofame must file its audited annual financial statements, management discussion and analysis ("MD&A") and CEO and CFO certifications for the year ended September 30, 2009, by April 5th, 2010. A Management Cease Trade Order will remain in effect until the filing requirements are met. In the event the audit is not completed within the delay, a general Cease Trade Order will be imposed. Since the current MCTO applies only to management and insiders, all other parties are permitted to freely trade in Sofame’s shares.
MONTREAL, February 11, 2010 – Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost efficient heat recovery equipment, has joined forces with Pacific Financial Resources (PFR) of Marina del Rey, California, (www.pacificfinancialco.com) to facilitate the sale of renewable energy. The energy will be delivered under Energy Supply or Power Purchase Agreements in the form of hot water produced by Sofame’s proprietary high efficiency heat recovery and hot water heating systems. The costs of installing Sofame’s heating products will be paid from efficiency gains and lower fuel costs after the projects are completed. The Pay-for-Performance or ESCO model makes energy efficiency technology accessible to credit-worthy companies who agree to purchase energy and reduce green house gas emissions without investing upfront capital.
MONTREAL, February 5th, 2010 –Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost efficient heat recovery equipment, must file its annual audited financial statements by April 5th, 2010.The Autorité des marchés financiers granted the extension and also issued a Management Cease-Trade Order (MCTO).Sofame requested the MCTO prior to missing the January 28 2010 filing deadline for its audited annual financial statements, management discussion and analysis ("MD&A") and CEO and CFO certifications for the year ended September 30, 2009.The MCTO will remain in place for a period of sixty (60) days, during which time Sofame must complete the audit of its financial statements and related documents.In accordance with Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults,Sofame plans to provide bi-weekly updates on further developments at the company until the filing requirements are met. In the event the audit is not completed within the delay, a general Cease Trade Order will be imposed.Since the current MCTO applies only to management and insiders, all other parties are permitted to freely trade in Sofame’s shares.
MONTREAL, January 4, 2010 – Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost efficient heat recovery equipment, announces that is has closed on the mortgage refinancing of its plant in Montreal. Net mortgage proceeds have been disbursed to meet critical short-term requirements of the company in order to continue operations. The funds were insufficient to meet the demands of all of Sofame’s creditors and the company requires new equity or project financing in order to remain viable.
Ontario has released its final mandatory greenhouse gas ("GHG") reporting regulation. O. Reg. 452/09, (GHG
Reporting Regulation) came into effect on December 1, 2009. This regulation made under the Environmental
Protection Act is a first step in the implementation of the proposed cap and trade program in Ontario.
As CEO of Sofame, my mandate is to lead change in our sales process and close business. After 200 days, I have a clear picture of where Sofame needs to be in 2010 and every reason to believe that we will get there. The potential of the new direct sales force in helping us achieve our revenue targets is clear already. The combination of in-house sales and engineering teams is turning heads at our corporate customers in Quebec. The knowledge and experience of our people is a tremendous resource for companies who wish to reduce green house gas emissions like NOx, and reduce fuel costs by up to 25% at the same time. Most environmental technologies today do not offer investment grade paybacks of 3-years or less like Sofame does.
MONTREAL, November 19, 2009 – Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost efficient heat recovery equipment, is advancing in discussions with several potential lenders and investors concerning the funding of sales and marketing initiatives as well as working capital required for growth and continuing operations. The corporation is working to secure financing of between $500,000 and $2 million via a private placement of common shares priced at $ 0.05 cents. Sofame is also in discussions with Invest-Quebec for a loan to finance sales and marketing costs as Sofame continues to develop the international market for its award winning industrial energy efficiency solutions. Among conditions of the loan, Sofame would have to raise $1.2 million in equity.
The industrial sector is indeed a challenging sector in which to encourage energy efficiency. The manner in which energy efficiency investments are made is complex, and in some ways unique to each individual firm, and even to each facility. Firms need to better understand their energy use, their energy opportunities, their energy challenges, and the benefits that energy efficiency can bring.
MONTREAL, October 7, 2009 – Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost efficient heat recovery equipment, announces the resignations of two members of its Board of Directors, Hubert Marleau and Richard Groome, Chairman. Mr. Marleau is the President of Palos Capital, and Mr. Groome is the Managing Director of Notre Dame Capital. The duties of Chairman of Sofame’s Board will be discharged on an interim basis by Mr. Robert Presser, a Director since February 2009, who has graciously accepted to step in following the resignation of Mr. Groome.
MONTREAL, October 7, 2009 – Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost efficient heat recovery equipment, disclosed the following information after a review of Sofame's continuous disclosure practices by the TSX Venture Exchange:
MONTREAL, September 10, 2009 – Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost efficient heat recovery equipment, welcomes four new Manufacturer’s Representatives to its sales organization.
MONTREAL, August 27, 2009 – Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost efficient heat recovery equipment, has launched an aggressive program to support its network of manufacturers representatives according to Michel Brisson, Sofame’s CEO.Brisson made the comments in a memo to shareholders posted on Sofame’s website.
MONTREAL, August 27, 2009 – Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost efficient heat recovery equipment, has signed a Memorandum of Understanding with Saab Financial Inc., represented by Mr. Fadi Saab, to expand marketing of Sofame’s products into Eastern European countries via turn-key financed projects.
Joining SOFAME has been every bit the challenge I thought it would be.During my first 100 days, we did not waste any time.
I understood quickly I had a good value proposition in my hands. SOFAME’s business is based on the concept of using highly efficient heaters and heat recovery from conventional gas-fired boiler systems to save money and lower green house gas emissions. SOFAME sells a green technology that has a proven track record spanning decades. These systems pay for themselves, and achieve impeccable energy efficiency. This value proposition is supported by any of SOFAME’s 300+ customers. We have excellent customer references.
On August 12, Canromex and Canadian company SOFAME had the honor to introduce to Mexico an award winning, state-of-the-art technology in heat recovery from combustion gases that reduces significantly the energy consumption and the gas emission to the atmosphere.
MONTREAL, July 22 /CNW Telbec/ - Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost efficient heat recovery equipment for traditional boilers, has reported a record quarterly sales of $1,542,085.
Monterrey-based Canromex S.de R.L. de C.V. to Reduce Energy Bills in Mexico MONTREAL, June 25 /CNW
Telbec/ - Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost efficient heat recovery equipment for traditional boilers, has signed a representation agreement with Canromex of Monterrey, Mexico. Canromex is currently positioned in the renewable energy market in Mexico and is developing several landfill waste-to-biogas sites in their territory, which includes Costa Rica, El Salvador, Guatemala, Honduras, Mexico, Nicaragua and Panama.
Publication Under Blue Sky Laws Underpins Secondary Trading In 38 States
Through Market Access Program
MONTREAL, May 19 /CNW Telbec/ - Sofame Technologies Inc. (TSXV:SDW) (USA:SFMGF) announced today that its company information is being made available via Standard & Poor's Market Access Program, an information distribution service that enables subscribing publicly traded companies to have their company information disseminated to users of Standard & Poor's Advisor Insight.
MONTREAL, May 13 /CNW Telbec/ - Through Tozour Energy Systems, Inc. a full-service HVAC and building automation provider, Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of direct-contact heat recovery equipment, will deliver turn-key the solution needed to bring the boiler plant at the hospital campus in Trenton, N.J. up to the highest standards of energy efficiency.
Percotherm(TM) to Reduce Fuel Costs and Carbon Emissions at Plant in Robinson, Illinois
MONTREAL, May 12 /CNW Telbec/ - Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of eco-efficiency solutions, has received a purchase order for a Percotherm(TM) from Stoermer-IES through ThermalTech Engineering of Cincinnati to improve boiler efficiency at the Hershey's facility in Robinson, Illinois.
MONTREAL, May 6 /CNW Telbec/ - Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of energy efficient commercial-industrial hot water heating and waste heat recovery equipment, is pleased to announce the addition of Mr. Michel Brisson to the executive team. Mr. Brisson will assume the role of President and Chief Executive Officer, effective immediately.
MONTREAL, April 30 /CNW Telbec/ - Sofame Technologies Inc. (TSX-V: SDW), a leading manufacturer of energy efficient commercial-industrial hot water heating and waste heat recovery equipment, has engaged the services of two seasoned sales professionals in the USA to reduce the long sales cycle of its custom-engineered products. Sofame will also begin to actively promote its turn-key financed energy efficiency solutions to multinational companies at the head office level.
MONTREAL, April 24 /CNW Telbec/ - Sofame Technologies Inc. (TSX-V: SDW) announces that it has decided not to proceed with the previously-announced proposed acquisition of TransPacific Energy Inc.
