ADSERO SIGNS TERM SHEET & PROVIDES UPDATE

[Anonymous]

ADSERO Signs Term Sheet and Provides Update
MONTREAL,
Aug.  2006  — ADSERO Corp.a North American printer cartridge
re-manufacturer, today announced that it has closed the previously
announced transaction with Turbon in relation to selling certain
customer accounts and related inventory and fixed assets. Turbon paid
an aggregate of approximately $2,800,000 of which approximately
$1,920,000 reduced the outstanding balance due to Turbon under the
supply credit facility between the Company and Turbon. The balance of
the purchase price in the amount of approximately $880,000 was paid to
National Bank of Canada to reduce our outstanding loan balance with
National Bank of Canada.The Company also announced that it has signed a
term sheet, with a U.S. based fund, for a financing in the amount of
$2.5 million in order to replace the current senior lender and provide
working capital. The term sheet is subject to due diligence and is
targeted to close on or before August 10, 2006.In addition, the Company
also announced it has signed a standstill agreement with its senior
lender to extend the time to pay the loan out in full until August 11,
2006. The terms of the standstill are disclosed within the 8K filed
with the SEC.

[Author]

August 17, 2006 at 1:37 PM