IC International Corona Capital Corp

Innovative Composites International Inc. ("ICI" or the "Company"), (TSX
VENTURE:IC) (OTCQX:ICIZF), a producer of proprietary engineered composite
products, announced today that, by mutual decision, the agreement it had entered
into with Difference Capital Funding Inc. that was announced on March 13, 2013
has been suspended due to market conditions. The Company is continuing to seek
new sources of funding to refinance the $2 million convertible debenture for
which a demand notice payment was received as announced by the Company on
February 11, 2013.


In parallel with its efforts to address the refinancing of the convertible
debenture, the Company remains focussed on its objective to become cash flow
positive within this calendar year by: (i) increasing revenue through business
development activities; (ii) significantly reducing operating costs; and (iii)
managing cash resources. 


About Innovative Composites International Inc.

Headquartered in Toronto, Canada, Innovative Composites International Inc. (TSX
VENTURE: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 industrial applications, shelters and containers, fire retardants,
and modular housing.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Innovative Composites International Inc.
Sam Greiss
Chief Financial Officer
(416) 646 0754
sgreiss@innovativecompositesinc.com
www.innovativecompositesinc.com

International Corona Cap... (TSXV:IC)
Historical Stock Chart
From Apr 2024 to May 2024

International Corona Cap... (TSXV:IC)
Historical Stock Chart
From May 2023 to May 2024