$44 Million for Exclusive Licensing of Its Intellectual Property

^{Published on 2010-08-16 10:30:13 - Market Wire}
 

South Shore Resources Receives LOI: $44 Million for Exclusive Licensing... -- PROVIDENCIALES, Turks and Caicos, Aug. 13 /PRNewswire-FirstCall/ --

PROVIDENCIALES, Turks and Caicos, Aug. 13 /PRNewswire-FirstCall/ -- South Shore Resources Inc. (Pink Sheets: SSHO) (Frankfurt: SXB) (WKN: A0LD9H) wishes to announce that it has received a letter of intent (LOI) pursuant to which a private Ontario company headed by Mr. Erich Genseberger wishes to purchase for $44 million, an exclusive 20 year license for use of our intellectual (Hydrogen on Demand) property.

Mr. Erich Genseberger, 49, has a diverse background, as he is also currently the CEO of EcoMedia Direct an environmentally friendly media company and has previously held increasingly senior management positions at Martinrea International, Royal Laser Corp. and Cosma International, the metal forming end of Magna International.  

Mr. Genseberger is a tool and die maker by training and an expert in metal manufacturing techniques and technology.

Subject to review, due diligence, evaluation and approval by both parties a definitive agreement is to be reached on or prior to September 01, 2010.

South Shore believes that its HyProStar Series of Hydrogen Generating Modules are an obvious aftermarket alternative to Rising Fuel Prices and Harmful Greenhouse Gases.  

To learn more about the HyProStar Hybrid Conversion Kit, please visit: [ www.southshoreresourcesinc.com ] or [ www.hyprostar.com ].

About South Shore Resources Inc.:

South Shore Resources Inc. is a company engaged in the development of products which are committed to the reduction of harmful greenhouse gases and fuel savings with the use of Hydrogen Generating Modules and related accessories to the transportation and automotive industries which are either in development and/or the commercialization stages.  

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby. These forward-looking statements involve known and unknown risks, uncertainties and other facts that could cause the actual future results of the Company to be materially different from such forward-looking statements. These forward-looking statements are made only as of the date hereof, and we disclaim any obligation to update or revise the information contained in any such forward-looking statements, whether as a result of new information, future events or otherwise.

For further information please contact South Shore Resources Inc. at (416) 281-3335 or visit the company's Website at: [ www.southshoreresourcesinc.com ].

SOURCE South Shore Resources Inc.

RELATED LINKS
[ http://www.southshoreresourcesinc.com ]
[ http://www.hyprostar.com ]