Venture Exchange symbol: IBR
VANCOUVER, Aug. 10 /CNW/ - International Bio Recovery Corporation ("IBR")
(TSX-V: IBR) an environmental biotech company with a proprietary technology to
convert organic waste into high value, progressive soil fertility products,
announced today that it intends to issue, by way of non-brokered private
placement, up to 833,333 common share units at a price of US$0.24 per unit for
gross proceeds of US$200,000. Each unit will consist of one common share and
one common share purchase warrant. Each warrant entitles the holder to
purchase one common share at US$0.24 for a period of 24 months.
The proceeds of the financing will be used to retire secured demand debts
and provide working capital to allow IBR to advance on-going marketing and
The private placement is subject to the receipt of all necessary
approvals, including approval of the TSX Venture Exchange.
The common share units have not and will not be registered under United
States Securities Act of 1933, as amended (the U.S. Securities Act) or any
state securities laws and may not be offered or sold in the United States
except in certain transactions exempt from the registration requirements of
the U.S. Securities Act and applicable states securities laws.
Located in North Vancouver, BC, IBR markets its technology products
through the sale of licenses. The Company's current and medium term focus is
to further develop its marketing capacity to enhance technology license sales.
The Company is committed to research and development to continue to improve
the effectiveness of its technology and the quality of its fertility products.
It is further committed to developing a world wide marketing capability to
ensure market acceptance of its fertility products.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
OR THE ACCURACY OF THIS RELEASE.
For further information:
For further information: Ben Van Dyk, Chairman of the Board, IBR, (604)
924-1023 ext 304, (604) 924-1043 fax, email@example.com; Henry J. Bow, Vice
President, IBR, (604) 924-1023 ext 309, (604) 924-1043 fax, firstname.lastname@example.org