BURNABY, BC, April 20 /CNW/ - Poly-Pacific International Inc.
("Poly-Pacific" or the "Company") (TSX-V: "PMB"; OTCBB: "PLYPF"; Berlin:
"A0LGDN"; Frankfurt: "POZ") is pleased to announce the successful negotiation
with Poly-Ran Reclamation Inc. to acquire its 30% interest in the McAdoo Lane
Landfill Site located near Kingston, Ontario. While the complete details of
the agreement are not available at this time, Poly-Pacific has reached a
letter of intent with Poly-Ran. Subject to regulatory approval, management
expects to finalize the terms of the agreement within the next two weeks.
The McAdoo Lane Landfill Site was operated as a licensed landfill from
1970 until its closure in 1987. Although no formal records of landfilling were
kept, during this time it is estimated that approximately 180,000 tonnes
(360 million pounds) of industrial waste nylon were deposited, and that the
overall volume of the present landfill is in the order of one million cubic
Mr. Randy Hayward, President, stated: "This is a significant step in
acquiring 100% beneficial control of the McAdoo Lane Landfill Site for
Poly-Pacific. Management is pleased to be able to provide this added value to
its shareholders. The Company is expecting receipt of the final access
approval from the City of Kingston imminently."
Poly-Pacific International Inc. has an extensive history in bringing
leading edge technologies for the exploitation of plastic and recycled plastic
in Canada and the United States. The Company is actively pursuing a number of
additional polymer landfill opportunities in North America.
This release may contain forward looking statements. These statements are
based on management's current expectations and beliefs and are subject to a
number of risks and uncertainties that could cause actual results to differ
materially from those described in the forward looking statements.
Poly-Pacific does not assume any obligation to update any forward looking
information contained in this news release. We seek safe harbour.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of the release.
For further information:
For further information: Mr. Randy Hayward, Telephone: (604) 293-8885,
Facsimile: (604) 293-8234