IC IC Capitalight Corp

Innovative Composites International Inc. (CNSX:IC)(OTCQX:ICIZF) ("ICI", or the
"Company") is pleased to announce that, further to its press release on October
7, 2013 announcing an increase in the size of its secured convertible debenture
offering (the "Debentures") to an aggregate of $3,200,000 (the "Offering"), the
Company has closed its tranche 2 offering of convertible debentures for an
aggregate principal amount of $1,129,000 (the "Tranche 2 Debentures"). On
September 5, 2013, the Company issued Debentures in the aggregate principal
amount of $2,016,875 (the "Tranche 1 Debentures"), and following the closing
today of the Tranche 2 Debentures, the Company will have issued Debentures in
the aggregate principal amount of $3,145,875 pursuant to the Offering.


The Debentures bear interest at a rate of 10% per annum and are convertible into
common shares of the Company at a conversion price of $0.03. Tranche 2 Debenture
holders have been provided with the same security that was provided to Tranche 1
Debenture holders, being a first priority security interest over all of the
assets of the Company, with subordination for accounts receivable and inventory
financings. The Company has the right to prepay the Debentures upon payment of
an additional three month's interest, although Debenture holders will have the
right to convert should the Company seek to exercise its prepayment rights. The
Debentures were issued pursuant to a trust indenture with Olympia Transfer
Services Inc. ("Olympia") acting as trustee thereunder, and the Tranche 2
Debentures were also issued pursuant to a supplemental trust indenture with
Olympia dated today.


Subscribers in the Offering received 1,600 share purchase warrants for every
$1,000 of principal subscribed for, each such warrant entitling the holder to
purchase one additional share at a purchase price of $0.05 for a period of two
years (the "Warrants"). A total of 1,806,400 Warrants were issued in connection
with the closing of the Tranche 2 Debentures today, and an aggregate total of
5,033,400 Warrants have been issued pursuant to the Offering. The Offering was
non-brokered. Approximately $1.009 million of the Tranche 2 Debentures were
issued in satisfaction of existing debts of the Company, and the remaining cash
proceeds (being $120,000) shall be used for general working capital purposes.
Finder's fees equal to 3% of cash subscribers sourced were paid to certain arm's
length third parties.


Said Mark Rivers, CEO of the Company: "With the closing of the Tranche 2
Debentures, and having now dealt with certain of our more pressing debtholder
situations in an orderly manner, we can continue to focus on our business and
growth initiatives. We look forward to providing a detailed business update to
shareholders in the coming days."


About Innovative Composites International Inc.

Headquartered in Toronto, Canada, Innovative Composites International Inc. 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 automotive and
transportation, shelters and containers, construction and housing, and
industrial applications.


To find out more about ICI please visit our website at:
www.innovativecompositesinc.com.


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.


The CNSX has not reviewed and does not accept responsibility for the adequacy or
accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Innovative Composites International Inc.
Mark Rivers
Chief Executive Officer
416-646-0754
mrivers@ceocapitalcorp.com
www.innovativecompositesinc.com

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