ILI Technologies (2002) Corp. Announces Completion of Private Placement

ILI TECHNOLOGIES (2002) CORP. (the "Corporation") (TSX VENTURE:ILI). The
Corporation is pleased to announce that it has completed its previously
announced non-brokered private placement. The Corporation issued 20,000,000
units of the Corporation (the "Units"), at a price of $0.15 per Unit, for
aggregate gross proceeds of $3,000,000. Each Unit consisted of one common share
of the Corporation (the "Common Shares") and one-half of one share purchase
warrant (the "Warrant"). 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,
provided that, 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 shall be accelerated to 30 days after the Corporation issues a press
release announcing the acceleration of the expiry date. 


The Corporation paid fees to brokers and finders by way of a cash payment of
$407,400 and by the issuance of 2,716,000 broker's warrants. Each broker's
warrant entitles the holder to purchase one Unit at a price of $0.15 per Unit
until February 18, 2013.


The Corporation intends to use the net proceeds from the private placement for
expansion of the CBM division located in Gillette, USA and the Corporation's
marketing initiatives in Mexico, as well as for general working capital.


The Common Shares and Warrants are subject to a four (4) month hold period
expiring on June 19, 2011, and the private placement is subject to final
approval of the TSX Venture Exchange Inc.


In addition, the Corporation intends to raise an additional $400,000 by the
issuance of 2,666,667 Units at $0.15 per Unit pursuant to a non-brokered private
placement. The additional private placement is anticipated to be completed on or
before February 28, 2011 and is subject to the approval of the TSX Venture
Exchange Inc. Finder's fees and warrants under the same terms as the previous
private placement will be paid on the additional private placement.


We seek safe harbour.