ILI Technologies (2002) Corp.
TSX VENTURE : ILI

ILI Technologies (2002) Corp.

May 31, 2011 16:43 ET

ILI Technologies (2002) Corp. Announces Annual General and Special Shareholders Meeting to Seek Approval for Share Consolidation and Name Change

CALGARY, ALBERTA--(Marketwire - May 31, 2011) -

(NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA)

ILI TECHNOLOGIES (2002) CORP. (the "Corporation") (TSX VENTURE:ILI) announces that it intends to seek approval of shareholders at an annual general and special meeting to be held on June 28, 2011 to consolidate its issued and outstanding common shares (the "Common Shares") on the basis of a ratio within the range of one (1) post-consolidation share for up to ten (10) outstanding pre-consolidation Common Shares, with such ratio to be determined by the board of directors in its sole discretion. If the proposed share consolidation is approved by shareholders, the board of directors will finalize the consolidation ratio based on the minimum distribution requirements of the TSXV Venture Exchange Inc. ("Exchange") and market conditions. The Corporation currently has 67,357,090 Common Shares outstanding and will have approximately 6,735,709 shares outstanding following the consolidation, if the board of directors determines that the maximum consolidation ratio of 10:1 is appropriate. In conjunction with the share consolidation, the Corporation intends to change its name to "Cdn Oilfield Technologies & Solutions Corp." A new stock symbol for trading of the post consolidated shares will be assigned by the Exchange. The proposed share consolidation is subject to final approval of the Exchange.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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