ONTC News Onteco Corporation, ONTC, Announces R

MIAMI, Aug. 13, 2012 /PRNewswire/ -- Onteco Corporation (OTC.QB: "ONTC"), (the "Company", or "Onteco"), announced today that it had received 2,037,948 shares of common stock of a publicly-traded company currently listed on the Frankfurt Stock Exchange. The stock is presently valued at $2.9 million U.S. dollars and is part of the payment due under the terms of the international licensing agreement signed April 30, 2012, with JARLYN S.A., ("JARLYN") a Uruguayan corporation, for Onteco's proprietary LED intellectual property ("IP"), developed by its subsidiary, NexPhase Lighting, Inc. ("NexPhase"). Under the terms of this agreement, Onteco is to receive a combination of $2.9 million dollars of common stock of a publicly-traded company acceptable to Onteco, cash and an ongoing royalty on gross revenues from the sales and installations of lighting products by JARLYN which use the IP.

"We are delighted to have received the stock due as payment in the licensing transaction," Dror Svorai, President of the Company, stated, "JARLYN will be using our IP in their new products which will be sold throughout Uruguay in the coming years, and we look forward to a long relationship with them, and continuous growth in revenues."