SURENANO SCIENCE LTD. announced that it has entered into a new Joint Venture for the purpose of developing and marketing a new powder nanoemulsion. In addition, it announces the expansion of its current Licences for Canada and Colorado to specifically include the new powder nanoemulsion product. The Company's license for Oklahoma already includes the rights for the new powder nanoemulsion product.

Currently, SureNano offers one product for sale, being the SureNanoTM surfactant. The new powder nanoemulsion product, provisionally called "SureNanoTM powder", is in development by 1150641 B.C. Ltd. (the "Licensor"). There are no guarantees that the development of SureNanoTM powder will result in the new product being available for sale in the future.

The Company and the Licensor agree to make contributions to a common fund for the purpose of developing and marketing worldwide a new product under development by the Licensor, the SureNanoTM powder nanoemulsion (the "Business Interest") and sharing equally in the profits thereof. Each Joint Venturer has contributed to the Joint Venture in the amount of $30,000. The Joint Venturers now have exclusive licence agreements in place governing the powder nanoemulsion, provisionally called SureNanoTM powder for the territories of Canada, Oklahoma and Colorado (the "Licensed Territories").

Revenues from the sale of SureNanoTM powder in the Licensed Territories will not be included in the calculation of profits under the Joint Venture unless and until the relevant Licence Agreement is terminated. All disbursements incurred by the Joint Venturers in developing, holding and protecting the Business Interest and accruing the net profits shall, during the term of the Joint Venture Agreement, shall be paid by the Joint Venturers equally. Decisions requiring approval of the Joint Venture, as further specified in the agreement, shall be made unanimously by the Joint Venturers.

Termination of the Joint Venture will occur upon mutual assent of both Joint Venturers. The Company and the Licensor have added SureNanoTM powder to the existing Licence Agreements for Canada and Colorado.