TORONTO, May 23, 2012 /PRNewswire/ - Innovative Composites
International Inc. ("ICI" or the "Company"), (TSXV: IC) (OTCQX:
ICIZF, a producer of proprietary composite products announced today
that it has received approval from the TSX Venture Exchange to
extend the term of 2,043,245 share purchases warrants (the
"Warrants"), which were set to expire on June 17, 2012, by six months. The Warrants
were issued as part of a private placement completed by the Company
on June 17, 2010. Each Warrant
is exercisable into one Common Share of the Company at $0.45 per share. The new expiry date of the
Warrants is December 17, 2012.
All other terms of the Warrants remain unchanged.
About Innovative Composites International Inc.
Headquartered in Toronto,
Canada, Innovative Composite International Inc. (TSXV:
IC) (OTCQX: ICIZF) is a high-tech engineering and manufacturing
company whose goal is to successfully commercialize a proprietary
line of composite products targeted at markets that include
prefabricated modular housing, shelters, containers, and
transportation.
Led by a management team with extensive
commercialization experience, ICI has adopted a two-tier business
model: It designs and manufactures products and partners with
established companies in its target markets to utilize their sales
channels for faster product roll-out.
The superior characteristics of its products
provide ICI with opportunities to establish and grow significant,
sustainable, and diversified sources of revenue in its target
markets.
To find out more about ICI please visit our website:
www.innovativecompositesinc.com.
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Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Statements made in this press release include
forward-looking statements that involve a number of risks and
uncertainties. These statements relate to future events or future
performance and reflect management's current expectations and
assumptions. A number of factors could cause actual events,
performance or results to differ materially from the events,
performance and results discussed in the forward-looking
statements, such as the economy, generally, competition in its
target markets, the demand for ICI's products and the availability
of funding. These forward-looking statements are made as of the
date hereof and ICI does not assume any obligation to update or
revise them to reflect new events or circumstances. Actual events
or results could differ materially from ICI's expectations and
projections.
SOURCE Innovative Composites International Inc.