MOU Manitou Capital Corp

Innovative Composites International Inc. (CSE:IC)(CNSX:IC)(OTCQX:ICIZF) ("ICI",
or the "Company") is pleased to announce that the Company has entered into a
non-binding Memorandum of Understanding ("MOU") for the acquisition of a leading
plastic injection molding business based in Eastern Ontario (the "Target
Entity"). Management of ICI believes that the acquisition and integration of the
Target Entity will help facilitate growth for ICI, while increasing its
research, engineering, production and overall operational efficiencies. 


The Target Entity is a well established private business with over 25 years of
producing high quality products for the automotive, electronics, industrial, and
medical / biotech sectors. 


The terms of the MOU call for ICI's acquisition of all the Target Entity's
common shares for a value of $10M, $7.5M paid in cash on closing and $2.5M
convertible into ICI shares at $0.15/share over the next 5 years. In addition,
ICI will issue to the vendors 5 year warrants that are exercisable at
$0.15/share subject to the Target Entity achieving certain financial performance
benchmarks. 


Additionally, current management will enter into 5 year consulting and
non-competition agreements to ensure the successful operation and integration of
the Target Entity into ICI.


The transaction is subject to standard due diligence, financing conditions and
exchange approvals, and is scheduled to close in late March 2014. 


Mark Rivers, CEO of the Company, commented: "We are extremely pleased to have
entered into this non-binding MOU with the Target Entity. We anticipate that
their integration into ICI will significantly improve operating efficiencies at
ICI. The Target Entity has significant tooling, research and testing facilities
which will support ICI's manufacturing. Furthermore ICI will be able to achieve
additional efficiencies by implementing the Target Entity's successful
enterprise resource and planning software across both companies as well as
allowing for greater purchasing power on raw material inputs. We welcome the
opportunity to work with the Target Entity's management team and look forward to
growing ICI's business together."


About Innovative Composites International Inc.

Headquartered in Toronto, Canada, Innovative Composites International Inc. is a
high-tech engineering and manufacturing company whose goal is to utilize its
proprietary "green" composite materials and building systems to provide
innovative, engineered product solutions to markets that include automotive and
transportation, shelters and containers, construction and housing, and
industrial applications.


To find out more about ICI please visit our website at:
www.innovativecompositesinc.com. 


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. 


The CSE has not reviewed and does not accept responsibility for the adequacy or
accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Innovative Composites International Inc.
Mark Rivers
Chief Executive Officer
(416) 646 0754
mrivers@innovativecompositesinc.com
www.innovativecompositesinc.com

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