CALGARY, ALBERTA--(Marketwire - June 1, 2011) - ILI Technologies (2002) Corp. (TSX VENTURE:ILI) intends to seek approval of shareholders at an annual general and special meeting to be held on June 28, 2011, to consolidate its issued and outstanding common shares on the basis of a ratio within the range of one post-consolidation share for up to 10 outstanding pre-consolidation common shares, with such ratio to be determined by the Board of Directors if it is deemed to be in the best interest of the company and shareholders. In the event the Board of Directors move to consider a share consolidation and if the proposed share consolidation is approved by shareholders, the Board of Directors will then finalize the consolidation ratio based on the minimum distribution requirements of the TSX Venture Exchange and market conditions. The corporation currently has 67,357,090 common shares outstanding. Any proposed share consolidation is subject to final approval of the TSX Venture Exchange.

The corporation further intends to change its name to "Cdn Oilfield Technologies & Solutions Corp." A new stock symbol for trading will be assigned by the TSX Venture Exchange upon approval.

Phil D'Angelo states, "It should be emphasized that any potential consolidation regardless of the ratio will only be considered if it is deemed necessary to attract significant capital to grow the business. It would not be prudent to continue to dilute the company at these low levels. The company's primary objective is to try and secure some form of debt facility either through a convertible debenture, a line of credit or other instrument that will not require the company to proceed with a consolidation of shares. The company is growing very quickly and the opportunities before us require additional capital to execute. No one likes a share consolidation but sometimes it may be necessary because of the current market capitalization and to attract larger capital. When you are trading at these levels and new business opportunities are brought forward that require additional capital prior to execution, every consideration must be taken in advance prior to making a firm commitment. If the company does not allow for the appropriate provisions in advance business opportunities could be lost as a result of timely delays that it will take to obtain approvals at a later date. I wish to make it clear that it is not the company's intention to proceed with a share consolidation unless it is absolutely necessary to secure significant capital that will result in new revenue growth for the company."

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The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Investors are cautioned not to place undue reliance on forward-looking information.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state of the United States or any other jurisdiction outside of Canada in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the U.S. Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act of 1933 and applicable state securities laws.

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Contact Information:

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