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Solanex Management Inc.: Solanex Management Inc. Enters Into MOU for Oil Sand Extraction Technology

^{Published on 2009-09-16 07:27:47 - Market Wire}
 

LAS VEGAS, NEVADA--(Marketwire - Sept. 16, 2009) - The Board of Solanex Management Inc. (OTCBB:SLNX) announces today that Solanex has entered into a Memorandum of Understanding to acquire technology leasing rights for sales, marketing and distribution to both a Pyrolitic Hydrocarbon Gasification System and a Liquid Extraction System owned by American Resource Petroleum Corporation of Utah ([ www.amrpco.com ]). The Company has elected to enhance the incineration / gasification component of its business model and considers the raw feed products of oil sands, oil shale, coal or used tires to be an added benefit to Solanex's potential customers, especially Municipal, State and Federal Governments. Government agencies throughout the defined territory are all very concerned about environmental emissions and will appreciate the fact that these technologies have been favourably reviewed by the EPA. The liquid extraction system uses a non-toxic, non-carcinogenic solution which separates the oil from its host (i.e. oil sands), but further use will be in an insitu recovery of in ground; old capped/closed oil wells, low producing wells as well as low producing heavy oil deposits where the viscosity is too thick to economically bring the oil to surface.

The MOU calls for a due diligence period which is to conclude on or before the 31st of October, 2009. According to the terms of the agreement, the territory includes the exclusive rights for the Central and South American region as well as additional Joint Venture rights to projects in North America with the existing rights holder. The agreement calls for a royalty which is not to exceed 5% of the net production revenue as well as a payment of 3 million common shares of Solanex.

To learn more about the Company, visit the website at:
[ www.solanexmanagement.com ]

About Solanex Management Inc.

Solanex Management Inc.'s business is the development, manufacture, distribution, marketing and sales of alternative, renewable and waste energy technologies. The Steam Injection System is a portable high temperature, high pressure steam generation unit being developed for use by companies who are in the bitumen/heavy oil exploitation business. The Company has made initial arrangements with TS2000-Star Vehicle Technologies Inc., a company that has a production joint venture with a Chinese Manufacturing Group. The waste to energy technology is a modular unit which has the ability to convert Municipal Solid Waste to electricity in small regional municipalities.

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Forward-Looking Statements:

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.