VANCOUVER, B.C., April 11, 2007 (PRIME NEWSWIRE) -- Kelso Technologies Inc. (TSX-V:KLS) (Other OTC:KEOSF), developer of the unique JS75 pressure relief valve, (the "Company") is pleased to announce that it has successfully negotiated the major terms of an agreement with Interbanc Limited (IBL) based in London, UK.
As part of the negotiated terms, Interbanc has agreed to work closely with the Company in structuring debt financing, working capital financing and other specific debt and structured financing of potential manufacturing facilities for various regions in the world. The structured financing will also provide Kelso with the resources it requires to undertake an aggressive program of research and development of new products based on its patented-protected technology and to expand its product line for not only the rail but other industries it seeks to penetrate.
This working relationship is a very important one as it is critical to Kelso's overall plan to grow its revenues and increase shareholder value through exploitation of its unique, patented technology for us in the rail, petrochemical, pipeline, stationary storage, trucking, marine and air transport. Kelso's plans to develop joint venture partnerships that will enhance its bottom line while minimizing expenses on the top line.
Interbanc Limited has been regarded as an "innovator," "influencer" and a "forward thinker" in the multi billion dollar industry known as structured finance. IBL intermediates between funding institutions and international corporate clients and provides an outsourced funding solution for transaction based projects. It specializes in areas such as asset backed securitization, lease structuring, invoice finance, project finance and worldwide real estate funding.
Interbanc Limited has strategic relationships with most of the main UK banks and many international institutions. IBL offers more complex services to the mid-market sector, working with national accountancy networks, corporate finance firms and professional advisors. IBL provides bespoke services for clients who have a "non traditional" or structured funding requirement and have funding needs of over US$10 million.
IBL Chief Executive Christian Kumar, is an English born, U.S. educated mathematician, with an MBA who has worked in corporate finance for Merrill Lynch, OM London Stock Exchange and latterly heading up the corporate side of Thinc Destini Group (now owned by AXA Group plc). He has over 15 years of experience in innovative structured finance.
"Interbanc has been selected by Kelso because it offers the range of financing structures that Kelso seeks to expand its world markets. Through its early years and recently, Kelso has financed itself through equity and now seeks to restructure and refocus its financings so as to add value to its shareholders while eliminating the need for further dilution. As we rollout our technology worldwide, we need the support and resources that our Interbanc partner offers to enable positive, forward-looking growth," stated Andrew R. Male, a Director of Kelso Technologies Inc.
Kelso Technologies Inc. is a public Company that trades on the TSX Venture Exchange under the symbol KLS and is quoted in the United States on the Pink Sheets under the symbol KEOSF.
For further information: please visit Kelso Technologies' website at www.kelsotech.com or contact Shareholder and Investor Relations at 1.866.535.7685 (604.878.7600) ext. 3 (kelso@kelsotech.com). Interested persons are encouraged to register on Kelso Technologies' website in order to receive ongoing updates and news -- visit http://www.kelsotech.com/InvestorRegistration.php.
Further information about Interbanc is available at www.interbanc.co.uk.
Issued on behalf of the Board of Directors of Kelso Technologies Inc., "John L. Carswell" John L. Carswell President & CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this Release. The information in this news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this release, words such as "estimate," "expect," "anticipate" and "believe" as well as similar expressions are intended to identify forward-looking statements. Such statements are used to describe management's future plans, objects, and goals for the Company and therefore involve inherent risks and uncertainties. The reader is cautioned that actual results, performance or achievements may be materially different from those implied or expressed in such statements, which speak only as of the date the statements were made. The Company does not update forward-looking statements continually as conditions change. We seek safe harbor.