03:59 PM EST - Sofame Technologies Inc. : said that is has signed a memorandum of understanding to acquire TransPacific Energy Inc. in California contingent upon satisfactory completion of due diligence and regulatory approvals, including that of the TSX Venture Exchange. Separately, a European firm has expressed strong interest in financing a pilot project with TPE in exchange for exclusive territorial distributions rights of TPE's systems. Also, an established solar company is interested in standardizing TPE's efficient organic rankine cycle turbine for solar power generation. Discussions with these parties would not be affected by the proposed acquisition. Sofame Technologies Inc.
shares V.SDW are trading down $0.015 at $0.19.
