ILI Technologies (2002) Corp.
TSX VENTURE : ILI

ILI Technologies (2002) Corp.

May 13, 2011 09:00 ET

ILI Technologies (2002) Corp.: Mexico Update

CALGARY, ALBERTA--(Marketwire - May 13, 2011) - ILI Technologies ("ILI") (TSX VENTURE:ILI) is pleased to provide an update for its business operations in Mexico through its wholly owned subsidiary "COTS". Pemex has issued a number of orders for the purchase of flexible pipe totalling approximately 7 km. The first project is located in San Fernando, Tamaulipas and is approximately 2.64 km in length. Currently, 2 km of pipe has been successfully installed and COTS is waiting for a directional drilling permit to complete the remaining 600 meters. Directional drilling for this project requires contractors to be fully trained prior to execution. New flexible pipe technology requires extensive training to meet the high standards of Pemex and COTS has played an active role through this process to ensure quality control and overall compliance. The project is anticipated to be completed in approximately 30 days.

Next week COTS will start the second project located in Monterrey totalling 1.8 km in length. The trench is being prepared up to 3 meters in depth to accommodate the pipe and ILI anticipates the project will be completed and tested in approximately 7 days.

A final project located in the Burgos sector totalling 2.5 km is scheduled to commence in approximately 2 to 3 weeks after receipt of all permits. A further progress update will be provided by ILI in due course.

Further to the news release of May 3¸ 2011, ILI is pleased to inform that funds have been advanced to the Mexican contractor to start a pre construction project for Pemex to execute on a work order issued by Schlumberger for commencement of the project. ILI expects to have the project completed in approximately 60 days.

Phil D'Angelo states, "I am exceptionally pleased with the level of expertise and the dedication associated with the projects in Mexico. There is a high level of professionalism and the work to date is perceived to be beyond Pemex's expectations. We will continue to deliver this high level of professionalism to establish a high level of confidence to support all our business ventures in Mexico".

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Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to, anticipated sales of the company and completion of installation projects. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and Mexico and globally; industry conditions, governmental regulation, including environmental regulation; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other industry and geographic specific risk factors. Investors are cautioned that this list of risk factors should not be construed as exhaustive.

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