Lexon Technologies, Inc. Enters Into Letter of Intent to Merge With INTEK America, Inc.

LA MIRADA, Calif., July 12 /PRNewswire-FirstCall/ -- Lexon Technologies, Inc. (OTC Bulletin Board: LEXO) today announced the execution of a Letter of Intent with INTEK America, Inc., ("INTEK") a leading consumer branded supplier of environmentally-responsible product lines based in Rancho Dominguez, California.  Under the terms of the Agreement, INTEK shareholders will receive newly issued shares of Lexon and own 80% of the combined entity. INTEK's management team will assume operating and managerial control upon completion of the reverse merger.  The Letter of Intent is non-binding and final completion of the reverse merger will be subject to due diligence and shareholder and board approval.

INTEK is a large scale manufacturer/distributor of consumer branded products and sells its merchandise via the big box retail and dealer channels in the United States, Europe, Asia, (soon to enter) Australia and New Zealand, and other countries. INTEK's core brand, GoECOlife™, launched in 2009, and offers a bevy of eco-friendly products for the home, office, and everyday living.

INTEK introduced the world's first line of commercial and personal "green" paper shredders under the GoECOlife™ brand. The GoECOlife™ remanufactured toner cartridge line was conceived in collaboration with Lexon and is set to launch in the next two months. In addition, there are a handful of new products in development or pending release this year and continuing through 2011.

James Park, CEO of Lexon Technologies, states, "We are truly excited about  the synergies that both companies share with each other. With combined revenues of  over $30,000,000 for the past fiscal year 2009 and strong growth projections for 2010, we now have the platform and momentum  to be a viable middle market company. The main stimulus for this reverse merger was the tremendous growth potential of the GoECOlife™ brand and the strong demand for the products associated with this brand. We are also inherit the proven sales experience and existing business relationships of INTEK to sell our toner products to their existing big box retailers as well as through their entire sales network."

Herman Chang, CEO of INTEK, states, "Caring enough to purchase everyday products which contribute to sustaining the earth should not mean that the consumer should have to sacrifice style, functionality or quality of product. This is one of GoECOlife™'s core values. "Green" can actually be sexy, sophisticated and hip…and it does not have to be "not-for-profit." Lexon represents the next logical step in our growth.  Not only do we acquire a profitable toner manufacturer, we also become a public company whereby we can accelerate the brand awareness of GoECOlife™.  As a public company, we will be rewarded for our continued growth and the timely introduction of sustainable products across multiple categories on a larger scale in the market. The public is ready for our products."

Updates to progress of this transaction will be provided in future press releases.

About INTEK (GoECOlife™)

Under the GoECOlife™ brand, INTEK manufactures energy-saving paper shredders, writing instruments made from recycled materials, eco-friendly remanufactured toner cartridges, BPI-certified biodegradable/compostable bio-plastics products (including a full range of servingware), and utilizes biodegradable and/or recycled materials in their packaging. In addition, GoECOlife™ products are carbon neutral in their manufacture and distribution, certified CarbonFree® by Carbonfund.org. Please visit www.goecolife.com.

About Lexon Technologies, Inc.

Lexon Technologies is an environmentally-responsible company, a manufacturer of recycled toner for laser printers, fax and multifunction copiers. The Company primarily services large retailers and distributors but also has a growing internet division. Lexon has over 350 product lines with product prices generally 30-60% less than original (OEM) toner cartridges. With a product defect percentage of less than 1%, Lexon also offers a 100% guarantee on all of its products.

The company, based in La Mirada, California, (www.ptoner.com), has a 35,000 square foot factory on the premises, 86 employees, and the capacity to manufacture 50,000 cartridges per month and recycles 350 different models of toner cartridges.

SOURCE Lexon Technologies, Inc.