BALSAM VENTURES AND NORPAC TECHNOLOGIES SIGN EXTENSION AGREEMENTBalsam Ventures and Norpac Technologies Sign Extension Agreement • January 19th, 2006 • Norpac Technologies, Inc. • Beverages
Vancouver, B.C., January 16, 2006, Balsam Ventures, Inc. (OTCBB: BLSV/Berlin BB: BV7) (“Balsam”) and NorPac Technologies, Inc. (OTCBB: NRPT) (“NorPac”), jointly announced today that, they have mutually agreed to amend the Exclusive License Agreement dated as of November 30, 2003, whereby Balsam was granted a license to market NorPac’s proprietary self-chilling beverage container technology to beverage producers and brand owners in both the European Union Countries (the “EU”) and The Peoples Republic Of China (the “PRC”), by extending the date on which Balsam is required to begin paying guaranteed minimum monthly royalties from January 15, 2006 to January 15, 2007.
EXTENSION AGREEMENTExtension Agreement • January 19th, 2006 • Norpac Technologies, Inc. • Beverages
THIS EXTENSION AGREEMENT (the "Extension Agreement") is made effective as of the 14th day of January, 2006, by and among NorPac Technologies, Inc. (“NorPac”), and Balsam Ventures, Inc. (“Balsam”).
