Recharger.com

Acquisition to Turn Teckn-O-Laser Public

June 3, 2004

Teckn-O-Laser is going public. The company entered into a letter of intent in May to be acquired by Adsero Corp. The acquisition will bring the Canadian toner and inkjet cartridge remanufacturer under the umbrella of a public company, which will trade on the Nasdaq Stock Market.

The move, technically a "reverse acquisition" as Teckn-O-Laser President Yvon Léveillé will acquire a majority ownership in Adsero, is the first step in the company’s plans of increasing its position as an industry leader in e-waste solutions. Upon the closing of the transaction, targeted before July 31, Adsero will become the holding company of Teckn-O-Laser as well as any future divisions or subsidiaries. Léveillé will become CEO of Adsero and a member of its board of directors.

"With the vision, experience and foundation of the Teckn-O-Laser group and the vision, means and plans of Adsero, I am confident that we can grow revenues through both internal growth and acquisitions," Léveillé said. "The industry currently is very fragmented with a large number of small players competing in a segment that is estimated to grow to $9 billion in North America alone by 2006. We feel this provides a huge opportunity to establish Adsero as the dominant, tier-two player within this industry."

Léveillé said the move is designed to increase the company’s finances and buying power, which will facilitate potential moves by Teckn-O-Laser into other e-waste arenas such as hardware and electronics recycling. Future plans also include the company developing technology to help "avoid the landfill," according to Léveillé.

"This will allow us to widen our mission," he said. "Through public funds and further internal investing in all aspects of the company, we will be able to grow at a much faster pace. All of our customers and their end-user customers will benefit from this."

Adsero is currently what is called a "shell" company, a publicly listed company that has no assets or liabilities. The terms of the transaction include approximately U.S. $3.9 million in cash on closing, U.S. $2.2 million in cash payable over three years, and the balance in 6 million common shares of Adsero Corp., representing an estimated 25 percent of the total issued and outstanding stock of Adsero, at the time of closing.

"I am extremely excited to announce our first acquisition as part of our overall strategy," said Dr. Wayne Maddever, president and CEO of Adsero Corp. "We are seeking to ‘close the loop’ on electronic waste management through various technologies from recycling and remanufacturing through to waste disposal. Teckn-O-Laser represents one of the leading companies within the recharger industry and comes with a proven management team who will lead Adsero in executing our vision"

Dr. Maddever will assume the position of executive vice president, corporate development, with the responsibility of expanding Adsero’s operations further into e-waste management, a market that the company estimates to exceed $200 billion annually worldwide.

Founded by Léveillé in 1990, Teckn-O-Laser has grown revenues in excess of U.S. $30 million annually. The company produces remanufactured toner printer cartridges and recently has entered into the remanufactured inkjet cartridges market. Teckn-O-Laser is currently one of the remanufacturing industry’s largest outsourcing partners with approximately 30,000 of its 55,000 monthly cartridges going directly for outsourcing. The company has facilities in Montreal, Toronto, Quebec City and Memphis, Tenn.

Contact Teckn-O-Laser at (800) 352-0222 or visit www.teckn-o-laser.com.