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Smokefree Innotec, Inc. (OTC Pink: SFIO) Planning Sale of Belgian Subsidiary

|Includes: Smokefree Innotec, Inc. (SFIO)

Smokefree Innotec has completed a Letter of Intent to transfer ownership its stake in a Belgium subsidiary to James Denvesron Corp, a deal potentially worth more than $1 million to Smokefree.

George Roth, President of Smokefree Innotec, recently announced that the company had has fully executed a Letter of Intent (LOI) to enter into a definitive agreement with James Denverson Corp., a Nevada corporation. Under the LOI, Smokefree will transfer its 80% ownership and control of SMOKEFREE INNOTEC, Bvba, its Belgium subsidiary corporation, to Denverson.

The parties to the LOI believe that the final agreement will result in consideration of more than $1,000,000 to Smokefree in the form of cash and notes convertible to Denverson shares, plus ongoing royalties.

Smokefree Bvba has achieved remarkable market penetration of the company’s products in Germany and Belgium. The Smokers Option and REAL product lines are available at more than 100,000 locations.

This agreement will consolidate the international marketing efforts of both Denverson and Smokefree Bvba. It also clarifies some points related to intellectual property which will make the new company stronger.

Of course the final agreement will require successful completion of due diligence by all parties. But Roth noted that “the Denverson Management has already been able to create a Bond Security funding package of up to US $3,500,000 as collateral backing for the company.” He added.

“Denverson is also utilizing its best efforts to achieve a listing for Denverson on the Open Market segment of the Frankfurt Stock Exchange for purposes of providing Denverson shareholders with liquidity and of raising equity capital. When that effort is successful, the Notes received by SFIO as part of the consideration under the definitive agreement will be converted and become a marketable asset of the Company.”

Summing up, Roth declared, “This teaming up with Denverson is another step in the direction that SFIO has undertaken to consolidate efforts in developing and distributing e-cigarette products that are wanted and needed by consumers, not only in the U.S., but internationally.

It has been a difficult path that the company has pursued with limited financial and manpower resources, so partnering with highly reputable others such as NASCO and Cannabis Science has aided the Company significantly in its past growth and overcoming regulatory difficulties that have strangled our progress recently.

But that is in the past, what matters is what is to be done next for SFIO customers and shareholders, and teaming up with Denverson appears to us as a light on the horizon for the Company as it navigates though troubled waters."

ABOUT JAMES DENVERSON CORP.
James Denverson Corp., denverson.com, a Nevada corporation hereinafter called JDC, is in business of designing and exploiting smokeless products for consumer of non tar or tobacco products in the USA and all over the world. Further, our products will allow the smoker to enjoy smoking either nicotine or flavored non-nicotine cigarettes while not having to worry about the offensive dangers and ill effects of regular cigarette smoking. However, JDC´s products are not intended for any prevention or therapeutic treatment of any disease.

ABOUT SMOKEFREE INNOTEC, INC.
Smokefree Innotec, Inc. (OTC Pink: SFIO), smokefree-innotec.com, is in the business of designing, developing, manufacturing and marketing hi-tech, nicotine and non-nicotine cigarette-like delivery devices which are completely smoke and vapor-free and tobacco-free. SFIO's products are designed to protect the non-smoker from second hand smoke and all its effects while providing the smoker a way to enjoy a smoke-free cigarette anywhere, including places where vapor emissions are offensive or smoking tobacco or similar substances is prohibited. Further, our products will allow the smoker to enjoy smoking either nicotine or flavored non-nicotine cigarettes while not having to worry about the offensive dangers and ill effects of regular cigarette smoking. However SFIO's products are not intended for any prevention or therapeutic treatment of any disease.

Contact:
Smokefree Innotec, Inc.
George Roth - CEO
info@smokefree-innotec.com
www.smokefree-innotec.com