IPICO Inc. announces C$5 million private placement financing



    /THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
    INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR
    DISSEMINATION IN THE UNITED STATES./

    BURLINGTON, ON, June 6 /CNW/ - IPICO Inc. (TSX-V:RFD) ("IPICO" or the
"Company") is pleased to announce that it has entered into an agreement with
Wellington West Capital Markets Inc. (the "Agent"), who has agreed to act on a
best efforts agency basis for a private placement of approximately 7,142,858
units (the "Units") at a price of $0.70 per Unit (the "Issue Price") for
aggregate gross proceeds of approximately $5 million (the "Offering"). Each
Unit will consist of one common share of the Company (a "Common Share") and
one half of one common share purchase warrant (each full warrant, a
"Warrant"). Each Warrant will entitle the holder to purchase one common share
of the Company for a period of 18 months from Closing at a price of $0.85 per
share.
    IPICO plans to use the net proceeds of the Offering for working capital
and general corporate purposes.
    IPICO will pay the Agent a cash commission of 6.0% of the gross proceeds
of the Offering. The Agent will also receive Broker Warrants exercisable for
that number of Common Shares as is equal to 5.0% of the total number of Units
sold pursuant to the Offering at an exercise price of $0.70 per Common Share.
The Broker Warrants will expire 12 months after the Closing Date.
    The Units will be subject to a four month statutory hold period from
closing. The Offering is scheduled to close on or about June 26, 2007 and is
subject to certain conditions including, but not limited to, the receipt of
all necessary approvals, including the approval of the TSX Venture Exchange.
    The securities being offered have not been registered under the United
States Securities Act of 1933, as amended, and may not be offered or sold
within the United States or to, or for the account or benefit of, U.S. persons
absent U.S. registration or an applicable exemption from the U.S. registration
requirements. This release does not constitute an offer to sell or the
solicitation of an offer to purchase securities in the United States.

    ABOUT IPICO Inc. IPICO Inc. is an RFID solution supplier with operations
in the USA, South Africa, Europe, Asia and Australia. IPICO produces smart
labels and tags based on the IP-XTM communication protocol. IPICO's low
interference readers comply with regulatory requirements in major geographical
regions, and allow for multi-reader rollout in close proximity. IPICO's low
cost RFID products excel at long read range, fast multi-read anti-collision
and high thru-beam read-speeds of dynamic tag populations. These products are
used to optimize the management of items, people, animals and processes within
the logistic supply chain and other value chains. For further information, go
to www.ipico.com.

    This news release contains certain forward-looking statements pertaining
to future anticipated projected plans, performance and developments, as well
as other statements relating to future operations and results, including,
without limitation, statements as to sales forecasts and required minimum
future revenues. Any statements in this news release that are not statements
of historical fact may be considered to be forward-looking statements. Written
words such as "may", "will", "expect", "believe", "anticipate", "estimate",
"intends", "goal", "objective", "seek", "attempt" or variations of these or
similar words, identify forward-looking statements. These statements by their
nature are estimates of future results only. Actual results could differ
materially from those contained in the forward-looking statements and are
based on current expectations that involve substantial risks and
uncertainties, including but not limited to the failure to meet forecast order
volumes, delivery commitments or minimum revenue expectations, as well as
those risks and uncertainties detailed from time to time in IPICO's periodic
reports filed on SEDAR (www.sedar.com).

    THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
    OR THE ACCURACY OF THIS RELEASE.

    %SEDAR: 00023515E




For further information:

For further information: Gordon Westwater, President, IPICO Inc., Tel:
(905) 631-6310, email: gordon.westwater@ipico.com; Ted Irwin, Chief Financial
Officer, IPICO Inc., Tel: (905) 631-6310, email: ted.irwin@ipico.com

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IPICO INC.

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