BURLINGTON, ON, April 5 /CNW/ - IPICO Inc. (TSX-V:RFD) announced today it
closed the non-brokered private placement issuance basis of 600,000 common
shares at a price of $0.50 per share for gross proceeds of $300,000 from Mel
Steinke, Executive Chairman of IPICO.
On April 5, 2007, the Company has advanced a loan in the amount of
$300,000 to Mr. Steinke to complete the transaction. The loan is secured with
the shares purchased and is non-recourse, non-interest bearing and repayable
over five years.
Mr. Steinke has been a member of the board of directors of IPICO since
its inception. He was appointed Executive Chairman effective January 1, 2007.
This private placement is made in furtherance of that appointment. Additional
information respecting Mr. Steinke and that appointment can be found in the
Company's press release dated January 10, 2007.
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 and involve substantial risks and
uncertainties, including those detailed from time to time. Actual results
could differ materially from those contained in the forward-looking statements
and are based on current expectations that involve a number of risks and
uncertainties. These and other risks may be detailed from time to time in
IPICO's periodic reports filed on SEDAR (www.sedar.com) including, but not
limited to, its latest Information Circular found under Anitech Enterprises
Inc. (which became IPICO INC. upon its name change).
About IPICO Inc.
IPICO is an RFID and global visible commerce supply-chain solution
supplier with operations in Canada, USA, France, South Africa, China and
Australia. IPICO produces smart labels and tags based on the IP-X(TM) air
protocol. IPICO's low interference readers comply with regulatory requirements
in major geographical regions, and allow for multi-reader rollout in close
proximity. The IPICO DIMI(TM) middleware platform manages applications in
large-scale, distributed systems, and allows for effective device management,
data switching and data security. 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 values chains.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information:
For further information: or a copy of Mel Steinke's complete biography
please contact: IPICO Inc., Gordon Westwater, President, (905) 631-6310 ext
361, Email: email@example.com, Website: www.ipico.com