CALGARY, ALBERTA--(Marketwire - Feb. 16, 2011) - ILI TECHNOLOGIES (2002) CORP. (the "Corporation") (TSX VENTURE:ILI). The Corporation is pleased to announce that it intends to complete a non-brokered private placement of up to 20,000,000 units of the Corporation (the "Units"), at a price of $0.15 per Unit, each Unit consisting of one common share of the Corporation (the "Common Shares") and one-half of one share purchase warrant (the "Warrant") for gross proceeds to the Corporation of up to $3,000,000. Each whole Warrant entitles the holder thereof to purchase one Common Share at an exercise price of $0.25 for a period of 2 years. In the event the closing price of the Common Shares is not less than $0.40 for a period of ten consecutive trading days, the expiry date of the Warrants will be accelerated to 30 days after the Corporation issues a press release announcing the acceleration of the expiry date.

The Corporation will pay fees to brokers of up to 8% of the cash amount raised by such broker and warrants equivalent to up to 8% of the number of Units sold by such broker. Eligible finders will receive an additional 6% cash and an additional 6% warrants. The net proceeds from the private placement will be used for general working capital as well as expansion of the CBM division located in Gillette, USA and the Corporation's marketing initiatives in Mexico.

The proposed private placement is subject to approval of the TSX Venture Exchange Inc.

The Corporation also announces that it has closed the final tranche of its previously announced private placement of 6,200,000 Units for aggregate gross proceeds of $620,000 to the Corporation. The second and final tranche resulted in the issuance of 150,000 Common Shares at $0.10 per share for gross proceeds of $15,000 on January 17, 2011. The closing of the first tranche of $605,000 was announced in a press release dated December 22, 2010. Aggregate finders fees of $22,800 cash and 228,000 brokers warrants, entitling the holder to purchase up to 228,000 Common Shares at a purchase price of $0.10 for a period of 3 years, were issued to arm's-length parties. The Common Shares and Warrants are subject to a four (4) month hold period.

We seek safe harbour.

Contact Information: ILI Technologies (2002) Corp.
Phil D'Angelo
(403) 543-0060
(403) 543-0069 (FAX)