ILI Technologies (2002) Corp. Announces Annual General and Special Shareholders Meeting to Seek Approval for a Name Change and P

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." 


Reader Advisory

Except for statements of historical fact, this news release contains certain
"forward-looking information" within the meaning of applicable securities law.
Forward-looking information is frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate" and other
similar words, or statements that certain events or conditions "may" or "will"
occur. In particular, forward-looking information in this press release
includes, but is not limited to, anticipated sales of the company and completion
of installation projects. Although we believe that the expectations reflected in
the forward-looking information are reasonable, there can be no assurance that
such expectations will prove to be correct. We cannot guarantee future results,
performance or achievements. Consequently, there is no representation that the
actual results achieved will be the same, in whole or in part, as those set out
in the forward-looking information. 


Forward-looking information is based on the opinions and estimates of management
at the date the statements are made, and are subject to a variety of risks and
uncertainties and other factors that could cause actual events or results to
differ materially from those anticipated in the forward-looking information.
Some of the risks and other factors that could cause the results to differ
materially from those expressed in the forward-looking information include, but
are not limited to: general economic conditions in Canada and Mexico and
globally; industry conditions, governmental regulation, including environmental
regulation; unanticipated operating events or performance; failure to obtain
industry partner and other third party consents and approvals, if and when
required; the availability of capital on acceptable terms; the need to obtain
required approvals from regulatory authorities; stock market volatility;
competition for, among other things, capital, skilled personnel and supplies;
changes in tax laws; and the other industry and geographic specific risk
factors. Investors are cautioned that this list of risk factors should not be
construed as exhaustive.  


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.