QED Connect and Sofame Technologies Sign Joint Venture Agreement GlobeNewswire "Press Releases "
MANCHESTER, N.H. , June 1, 2010 (GLOBE NEWSWIRE) -- QED Connect Inc. (Pink Sheets:QEDN), a New York Corporation , today announced that it entered into the Joint Venture Agreement with Sofame Technologies, Inc. (TSX-V:SDW), a Montreal, Canada based company ("Sofame").
The Joint Venture (JV) will form a US based company for the purposes of marketing, distributing, selling and supporting SOF's products within the United States.  The JV will also establish strategic relationships and utilize the contacts of QED to assist the business development efforts and other corporate needs of Sofame in the United States . ÂÂ
John Gocek , Chief Operating Officer of Sofame , said, "The formation of the Joint Venture with QED is the first phase in our long term plans to establish Sofame as a major player in the engineering and manufacturing of high-efficiency direct-contact industrial hot water systems in the United States ."
Tom Makmann , CEO of QED Connect , stated, "QED is continuing to move forward on our plans to invest and partner with promising, developing businesses, and sees the joint venture as a significant step toward achieving our goals and increasing shareholder value."ÂÂ
Formation of the Joint Venture Company is expected to be finalized this quarter subject to approval by the respective Boards of Directors.
About QED Connect, Inc.
