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First Sale for TSO3October 5, 2005Québec City, October 5, 2005 – TSO3 Inc. (“TSO3”) (TSX: TOS) announces the first sale of its 125L Ozone Sterilizer in North America, which came through a request for quotation for the acquisition of a low temperature sterilizer without ethylene oxide. Ownership rights were transferred after the client completed the evaluation period and experienced satisfactory results.At the customer’s request, TSO3 submitted its 125L Ozone Sterilizer to a rigorous evaluation process during which the sterilizer had to meet numerous performance criteria and was compared to the competition. The hospital has set itself the goal of eliminating the use of the toxic gas ethylene oxide within its facility; the hospital selected the 125L as the best choice to replace an ethylene sterilizer in its central sterilization department. “It is a moment that we have been waiting for with great eagerness. We are introducing a brand new technology to the market: it is a process that takes time and rigorous focus”, stated Jocelyn Vézina, CEO at TSO3. “This first sale confirms the market need for a product such as ours and stands out as an important step in our development as a company. We wish to thank all of those who continue to put their trust in us and keep supporting us. We will keep up the hard work, as this first sale is just the beginning”. 125L Ozone Sterilizers are currently on trial in many North American hospitals. Users have a period of a minimum of 90 days to test the sterilizer under real operating conditions. Some of these hospitals have already paid for the sterilizer. Those amounts are reflected in the « Deferred Revenues » section of the Company’s financials. These deferred revenues reflect amounts received for a certain number of sterilizers during the trial period phase for which the ownership has not yet been transferred. Sales will be posted to the financial results when the trial period is completed and the transfer of property confirmed. TSO3 notes that the deferred revenues were almost $1M as at June 30, 2005. The Company is also relying on written satisfaction reports from hospitals that are part of the referral sites program, both in Canada and in the United States. More Information on the Referral Sites Program The TSO3 marketing strategy is to build market acceptance by entering into agreements with North American hospitals, called “referral sites,” to showcase its new ozone-based process for sterilizing medical instruments. With this trial program, TSO3 is demonstrating the significant savings and numerous benefits of the ozone sterilization technological platform through referrals from satisfied customer. Six such agreements have been signed in Canada, and an additional seven in the U.S., for a total of thirteen. About TSO3 TSO3 Inc. is located in Québec City, Québec, Canada, and was founded in 1998. The Company’s mission is to develop and market innovative and comprehensive sterilization solutions. TSO3 has perfected an innovative sterilization process using ozone as the sterilizing agent. The first product based on this technological platform is the 125L Ozone Sterilizer, which is intended for hospital sterilization units. The 125L – named after its 125-litre/4.3-cubic-foot capacity – was designed to sterilize heat and moisture-sensitive surgical and diagnostic devices which are expensive and in high demand from the surgical suite. The ozone sterilization process is a safe, efficacious, fast and cost-effective response to evolving sterilization needs. The 125L Ozone Sterilizer by TSO3 was cleared for commercialization by Health Canada and more recently by the U.S. Food and Drug Administration (FDA). TSO3 expects the first sales of this product in 2005. TSO3 currently has 51 employees, 15 of whom work in the sales and marketing team to support SKYTRON, the company’s exclusive distributor for North America. With over 30 years experience servicing operating room and decontamination-sterilization departments throughout North America, SKYTRON provides 120 sales representatives, 100 service representatives and sales support facilities with manufacturing suppliers in the United States, Canada, Finland, Japan and the Netherlands to support the sales activities of TSO3. The statements in this release and oral statements made by representatives of TSO3 relating to matters that are not historical facts (including, without limitation, those regarding the timing or outcome of any financing undertaken by TSO3) are forward-looking statements that involve certain risks, uncertainties and hypotheses, including, but not limited to, general business and economic conditions, the condition of the financial markets, the ability of TSO3 to obtain financing on favourable terms and other risks and uncertainties. The TSX has neither approved nor disapproved the information contained herein and accepts no responsibility for it.- 30 - Source: TSO3 Inc. Information: Caroline Côté Director, Corporate Communications and Investor Relations Phone: (418) 651-0003, ext. 237 Email ccote@tso3.com |
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