SOURCE: Smokefree Innotec, Inc.

Smokefree Innotec, Inc.

January 25, 2010 09:53 ET

Smokefree Innotec European Subsidiary Obtains Agreement for $425,000 Line of Credit

NASHVILLE, TN--(Marketwire - January 25, 2010) - Smokefree Innotec, Inc. (PINKSHEETS: SFIO) ( or announced today that it has been confirmed that the KBC Bank of Brussels, Belgium, has conditionally agreed to open a secured credit line of 300,000 Euros (US$425,000), valid until June 30, 2013 for Smokefree Innotec Bvba, the Belgian subsidiary of Smokefree Innotec, Inc., to finance manufacturing and distribution of its smokefree product.

Smokefree Innotec President Thomas Schroepfer stated, "The KBC credit facility and Smokefree Innotec's policy to charge 60% advance payment for each order of REAL Smokefree, the world's first totally smoke and vapor free hi-tec cigarette, will enable SFI adequate financing to meet the increasing demand in 2010. The backing of the Flemish Government is being arranged to secure this banking arrangement."

He added: "Our wholly owned European affiliate Smokefree Innotec BvbA received revenues of 53,525.43 Euros ($75,754) in December and has pending 232,500 Euros ($329,057) in January. With our additional financing in place we are looking forward to a very successful year."

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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.

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