BC approval...
Subj: FiberChem and Intrex Announce British Columbia Supreme...
Date: 6/22/00 11:37:48 AM Pacific Daylight Time
FiberChem and Intrex Announce British Columbia Supreme Court Approval of Arrangement Agreement
LAS VEGAS--(BUSINESS WIRE)--June 22, 2000--FiberChem Inc. (OTCBB:FOCS) announced that Intrex Data Communications Corp. has received approval from the Supreme Court of British Columbia, Canada, for the combination of its business with that of FiberChem.
The board of directors of FiberChem will meet to ratify the agreement later this month. Final consummation of the combination is subject to the successful completion of the financing process and other usual closing conditions.
Intrex is a private company that provides proprietary Internet and communications technology for communicating data to or from remote or mobile assets on a real-time basis using wireless, satellite and cellular data systems.
Data is routed through Intrex's global network that acts as a data gateway and applications service provider allowing customers to monitor and control remote or mobile assets such as gas wells, pipelines, compressors, storage tanks, offshore platforms or service vehicles directly from a desktop PC.
Intrex is a licensed reseller of the Orbcomm Global LP low earth orbit or LEO satellite data and messaging communications services. Orbcomm is a partnership owned by Orbital Sciences Corp. and Teleglobe Inc. of Canada. Intrex also has communications agreements that provide satellite services through Norcom Inc., as well as digital cellular services.
FiberChem develops, manufactures, markets and licenses fiber optic chemical sensors that produce continuous, real-time information of environmental pollutants in the air, water and soil. These technologies are currently used in applications such as pipeline leak detection, aboveground storage tank monitoring, oil production, water quality monitoring and industrial wastewater compliance monitoring and control.
This release includes forward-looking statements relating to the company's operations that are based on management's and third parties' current expectations, estimates and projections. These statements are not guarantees of future performances and actual results could differ materially. The statements in this release regarding FCI's business combination with Intrex and the completion of successful financing, are forward-looking statements that involve risks and uncertainties. These risks and uncertainties include: FCI's ability to complete the combination, the ability to obtain the required financing to complete the combination, the combined entity's ability to market its services using the two companies' technologies, the timely development and acceptance of new products, final promulgation and enforcement of regulations, the impact of competitive products and pricing, the timely funding of customer's projects, customer payments to the company and other risks detailed from time to time in the company's Securities and Exchange Commission reports.
CONTACT:
Continental Capital & Equity Corp.
Quest Capital Group
Scott A-B Gibson, 407/862-5151
scott@insidewallstreet.com
www.insidewallstreet.com
or
scott@questcapital.cc
www.questcapital.cc
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