ThermoCeramix Corporation
TSX VENTURE : TCX

ThermoCeramix Corporation

February 20, 2015 07:30 ET

ThermoCeramix Signs Term Sheet with Zephyr Ventilation Inc. for Technology Licence

MONTREAL, QUEBEC--(Marketwired - Feb. 20, 2015) - ThermoCeramix Corporation ("ThermoCeramix" or the "Company") (TSX VENTURE:TCX), a technology-licensing company engaged in the development of high-performance, energy-efficient electric heating solutions, announced today that it has entered into a non-binding term sheet (the "Term Sheet") with Zephyr Ventilation Inc. ("Zephyr"), a San Francisco-based leader in kitchen ventilation hood design, innovation and technology, to co-develop and license products based on the Company's proprietary electro-resistive heating technology.

The Term Sheet sets forth a list of key terms and conditions precedent that will serve as the basis of negotiation of a definitive license agreement (the "Definitive Agreement"). The Term Sheet contemplates that Zephyr will obtain a non-exclusive, royalty-bearing licence for the right to use and commercially exploit, in North America, the Company's proprietary electro-resistive heating technology as it relates to products co-developed by the Company and Zephyr in accordance with the Definitive Agreement.

The execution of the Definitive Agreement is subject to a number of conditions including the negotiation of definitive terms and both parties receiving required internal approvals. There can be no assurance that the Definitive Agreement will be entered into on the terms currently contemplated or at all.

About ThermoCeramix

ThermoCeramix Corporation (TSX VENTURE:TCX) is a technology-licensing company engaged in the development of high-performance, energy-efficient electric heating solutions. The Company's patented and proprietary TCX™ heating technology uses thermally sprayed heaters applied as a coating directly to almost any profile and material that requires heat. The technology is energy-efficient, scalable, and adaptable to almost any size and shape. The Company holds a strong and broad intellectual property portfolio of over 25 patents. The Company's strategy is to commercialize one application of its technology platform through the development, production and sales of a unique electric indoor-outdoor grill, then license the technology for numerous additional consumer, commercial & industrial applications. For more information, please visit the Company's web site at www.thermoceramix.com.

About Zephyr Ventilation

Since 1997, San Francisco-based Zephyr has continued to bring design, innovation and technology to the forefront of the kitchen ventilation hood industry. The company has challenged the perception of what ventilation means in kitchen design and created a new awareness of the importance of a high performing ventilation system. With acclaimed talent such as artistic visionary, Fu-Tung Cheng, and industrial designer, Robert Brunner, Zephyr is able to create cutting-edge residential range hoods unlike any other company. In addition, Zephyr has pioneered ventilation hood technology with the industry's first DCBL Suppression System™; an exclusive innovation that delivers the most silent, energy efficient and performance-driven range hoods available today.

As a direct result of its commitment to elevating range hood design and technology, Zephyr is the recipient of several prestigious awards including Consumer Report Buy Rating, Consumer Digest Best Buy Rating, Spark Product Design, Chicago Athenaeum Good Design, ADEX (Awards for Design Excellence), Appliance Design 'Excellence In Design' and the Architectural Products 'Product Innovation Award.'

Caution Regarding Forward Looking Information

Certain information set forth in this press release may contain "forward-looking statements" or "forward-looking information" under applicable securities laws. Except for statements of historical fact, certain information contained herein may constitute forward-looking statements. Any such forward-looking statements may be identified by words such as "will", "expects", "anticipates", "contemplates", "believe", "projects", "plans", "to be" and similar expressions. Any such statements are not guarantees of future performance and undue reliance should not be placed on them. Any such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. There can be no assurance that any such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. For more information relating to risks which may cause the Company's actual results to be different from expected and historical results, please see the Company's "Filing Statement" dated March 26, 2014 filed under the Company's SEDAR profile at www.sedar.com.

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

Contact Information

  • Investor Relations:
    Paradox Public Relations
    (514) 341-0408 / (toll free in North America) 1-866-460-0408
    info@paradox-pr.ca

    ThermoCeramix Corporation:
    Louis Desmarais
    Chief Executive Officer
    (450) 641-5461 ext. 5651
    ldesmarais@thermoceramix.com