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www.sofame.com

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SOFAME SIGNS $12 MILLION LETTER OF INTENT WITH WISE ENERGY

Sofame Technologies Inc. has signed a letter of intent with Wise Energy Equipment Solutions Inc. of St-Paul, Minn., a CorVal Group, Inc. subsidiary company. The proposed agreement outlined in the letter of intent calls for Wise Energy to increase its commitment to sell Sofame products by $12-million over three years.

While attending the AHR Expo in New York, John Gocek, president and chief executive officer of Sofame, said, "Wise Energy's expanded commitment to market Sofame's high-efficiency condensing boilers will clearly reach a growing number of end-users, and will help increase awareness and acceptance of Sofame's patented heat-recovery technology."

Todd Dougan, managing director of Wise Energy Solutions, said, "Now that Sofame has trained Wise engineers to apply Sofame's heat-recovery condensing technology to both new and retrofit boilers, customers are really seeing the potential for significant cost reductions and rapid payback on their gas saving, carbon-reducing green investments."

Subject to regulatory approval and the signature of a definitive agreement, Sofame has agreed to grant Core Ventures, LLC, a CorVal-related company, a total of two million warrants entitling Core Ventures to acquire up to a total of two million additional common shares of Sofame at an exercise price of 50 cents per share with an expiration date set for a period of three years. The warrants shall vest in three equal tranches:


The first 666,666 upon signature of the definitive agreement;
The next 666,666 upon Wise Energy meeting a performance milestone;
The remaining 666,667 upon Wise meeting a second performance milestone, all to be determined by Sofame and certified in writing in compliance with the said agreement.

About Wise Energy Equipment Solutions

Wise Energy is a manufacturers' representative focused on providing innovative energy savings equipment throughout the United States, and is wholly owned by the CorVal Group. CorVal is a company based in the U.S. which provides a full range of EPC services through its subsidiaries including

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Competition
The Company competes against several regional, national, and international competitors, some of them very large. The
Company nevertheless believes that the variety of its products and its advance technology, its propensity for innovation
and its distribution networks enable it to compete effectively.
Marketing
The heat recovery equipment sold by Sofame is generally specified by independent consulting engineers working on
behalf of end users. The submittal designs and production drawings are completed by the engineers at Sofame. The
company is being contacted more and more frequently regarding large scale projects to reduce energy consumption at
international airports, universities, district heating plants, and industrial facilities such as ethanol plants. To solicit more
business from end-users, such as institutional building owners and power generating utilities, Sofame has begun
expanding its network of manufacturing representatives. These firms are owned and staffed by mechanical engineers
who sell a wide variety of equipment from various manufacturers that is complementary to Sofame’s product offering.
These representatives cover specific geographical territories in both Canada and the United States, where they maintain
excellent working relationships with consulting engineers, contractors, developers, and large building owners. Sofame
supports these representatives in increasing market penetration and brand awareness by participating in customer site
visits and attending various major trade shows related to the industry. Sofame has also launched a media campaign
targeting specialized trade journal and business publications in both Canada and the United States to promote its
technology and achievements.