Alternative Green Technologies, Inc. has announced that it has engaged Dinosaur Securities as its investment banker to source potential acquisitions in addition to acting as placement agent for potential future capital raises. "We are very excited about this new engagement and on behalf of the Company I feel that the Dinosaur Group is a firm that can help us achieve synergistic acquisitions in addition to opening the door for potential institutional investments," stated Mitchell Segal, President of Alternative Green Technologies, Inc.

Alternative Green Technologies Inc. announced the execution of a letter of intent licensing its Reddiform green building product technology for the exclusive production, distribution and installation of the Reddiform ICF construction system throughout the country of Canada to Vision enVert Inc., a Canadian construction, development and management company. Alternative Green Technologies, through its Reddiform Worldwide subsidiary, will achieve initial licensing fees totaling $875,000.00 as exclusive rights of certain Canadian provinces are exercised. Additionally, Reddiform Worldwide shall receive a royalty of 3% of gross sales when the Reddiform ICF system is manufactured, purchased and/or installed and a royalty of 10% of gross sales when the Canadian licensee acts as a distributor of the product. Reddiform Worldwide will also have a carried interest of 20% in the licensee entity. The 15-year licensing agreement specifically covers the provinces of Quebec, Ontario, British Columbia, Alberta, New Brunswick, New Foundland and Labrador, and Prince Edward Island and is subject to minimum sales requirements which increase over time in each province. It is expected that a definitive agreement will be executed by March 15, 2009.

Niteagle Systems changed its name to Alternative Green Technologies Inc.