Smokefree Innotec Announces Joint Venture with Colorado Based Laboratories
03 August 2010 - 3:00PM
Business Wire
Smokefree Innotec, Inc. (Pinksheets:SFIO) Thomas Schroepfer,
CEO, (http://www.sfio.us or http://www.realsmokefree.com) announced
today that the Company has executed a Joint venture agreement with
a Colorado research and development corporation focusing on natural
holistic and herbal medical compounds, operating out of laboratory
facilities located in Colorado Springs. The business objective is
to jointly develop and market several smoke-free high tech natural
and herbal pharmacological products, initially based upon an oral
delivery system utilizing the innovative technology developed for
the “REAL Smokefree Cigarette™”. Under this joint venture Smokefree
Innotec, Inc. will provide its smoke-free products and devices, and
its venture partner will provide all the medical extract
formulations to the Company.
Mr.Schroepfer stated, “This partnering will put Smokefree
Innotec in the forefront of marketing our devices, delivering
medical formulations of pharmacological extracts to dispensaries
and healing centers already in existence, in compliance with
applicable federal and state regulations. Because the information
is highly sensitive and proprietary to the Company, We have agreed
to withhold the name of our joint venture partner pending the
necessary approval to release that information. The entry into this
arena represents a significant step forward in extending our
distribution of Smokefree’s products in North America. The material
fact here is that we have created this joint venture with a highly
reputable well established research laboratory opening the way for
substantial future business. Further information to the public will
be released as it becomes appropriate.”
About Smokefree Innotec, Inc: www.smokefree-innotec.com
Smokefree Innotec, Inc. is in the business of designing,
developing, manufacturing and marketing hi-tech, nicotine and
non-nicotine cigarette-like delivery devices which are completely
smoke and vapor-free and tobacco-free. Smokefree Innotec’s products
are designed to protect the non-smoker from second hand smoke and
all its effects while providing the smoker a way to enjoy a
smoke-free cigarette anywhere, including places where smoking
tobacco or similar substances is prohibited. Further, our products
will allow the smoker to enjoy smoking either nicotine or flavored
non-nicotine cigarettes while not having to worry about the
offensive dangers and ill effects of regular cigarette smoking.
However Smokefree Innotec products are not intended for any
prevention or therapeutic treatment of any disease.
A number of statements referenced in this Press Release are
forward-looking statements, which are made pursuant to the Safe
Harbor Provisions of the Private Securities Litigation Reform Act
of 1995, and within the meaning of Section 27A of the Securities
Act of 1933 and Section 21B of the Exchange Act of 1934. Any
statements that express or involve discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives,
and goals, assumption of future events or performance are not
statements of historical fact and may be “forward-looking
statements.” Forward-looking statements are based on expectations,
estimates and projections at the time the statements are made that
involve a number of risks and uncertainties which could cause
actual results or events to differ materially from those presently
anticipated. Forward-looking statements in this Release may be
identified through the use of words such as “expects,” “will,”
“anticipates,” “estimates,” “believes,” or statements indicating
certain actions “may”, “could,” or “might” occur. Such statements
reflect the current views of Smokefree Innotec Inc. with respect to
future events and are subject to certain assumptions, including
those described in this release. These forward-looking statements
involve a number of risks and uncertainties, including the timely
development and market acceptance of products, services, and
technologies, competitive market conditions, successful integration
of acquisitions, the ability to secure additional sources of
financing, the ability to reduce operating expenses, and other
factors. The actual results that the Company achieves may differ
materially from any forward-looking statements due to such risks
and uncertainties. Smokefree Innotec Inc. does not undertake any
responsibility to update the “forward-looking” statements contained
in this news release. Disclosures made in this Press Release are
limited by good business practice and to that permitted to the
public by applicable securities regulations, both Federal and
State, including rights granted to shareholders under the Nevada
Revised Statutes NRS 78.257 regarding limitations of preferential
and selective disclosure of confidential Company information.
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