TORONTO, March 4, 2013 /CNW/ - Innovative Composites International Inc. ("ICI" or the "Company"), (TSXV: IC) (OTCQX: ICIZF), a producer of proprietary engineered composite products, announced today a change to the board of directors of the Company.
Mr. Andrew McConnell has resigned as a director of the Company. Mr. McConnell felt that the evolving business interests and potential partnerships moving forward between he and the Company placed him in a position of conflict as a director and, accordingly, that it would be more appropriate for him to resign from the Board.
"We were fortunate to have someone of Mr. McConnell's caliber as a director of the Company, even if it was for a short period of time and although the loss of his expertise on the Board will be felt, we understand the reasons for his decision," said Terry Ball, CEO of ICI. "We are excited about the discussions with Mr. McConnell regarding possible partnerships relating to fire retardants and the development of northern housing for use by First Nations communities, and mining companies doing business with First Nations communities. On behalf of the board of directors of ICI, I wish to thank Mr. McConnell for his services."
About Innovative Composites International Inc.
Headquartered in Toronto, Canada, Innovative Composites International Inc. (TSXV: IC) (OTCQX: ICIZF) 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 prefabricated modular housing, shelters and containers, and industrial applications.
To find out more about ICI please visit our website at: www.innovativecompositesinc.com.
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.
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