For FOCS holders:
FiberChem and Intrex Obtain Bridge Funds Commitment, Schedule Agreement
Filing
Business Editors
LAS VEGAS--(BUSINESS WIRE)--May 4, 2000--FiberChem Inc.
(OTCBB:FOCS) today announced that it has obtained a commitment for
bridge financing to assist in the consummation of the business
combination of FiberChem and Intrex Data Communications Corp. of
Vancouver, British Columbia, and Dallas.
FiberChem is to be renamed DecisionLink Inc., which will continue
to be traded on OTCBB.
Geoff Hewitt, chairman and CEO of FiberChem, said: "With the
assistance of RP&C International, of London and Dallas, we have been
able to secure a commitment for bridge financing on terms acceptable
to both FiberChem and Intrex.
"This short-term funding allows us both to continue the process of
integrating the operations of the two companies, while completing the
various regulatory steps along the way. We have worked successfully
with RP&C in the past and are pleased to be working with them again."
David Peachey, CEO of Intrex, also announced that Intrex is
scheduling its filing of the arrangement agreement for the combination
of the Intrex and FiberChem businesses into DecisionLink with the
Supreme Court of British Columbia for the week of May 15, 2000.
Hewitt said: "The two companies are now working on a number of
large projects together and are beginning to combine a number of
operations. We are currently setting up an integrated financial system
and a common information network.
"We are developing a Web site for DecisionLink that we expect to
introduce upon completion of the merger. The employees and management
of FiberChem are very excited about the opportunities presented by
this new business. We find that there is a tremendous amount of
synergy between us and we share common goals."
Peachey said: "We are very much aware that both the FiberChem and
Intrex shareholders are anxious to see the combination of our two
companies. Although the delays have been lengthy, we believe the path
is now clear to complete this business combination. The complexities
of solving the tax and corporate issues of several jurisdictions has
taken both time and work by both companies' professional advisors."
Peachey continued, saying: "These administrative delays have not
slowed down the development of Intrex's business, and we will now be
able to make a much larger contribution to DecisionLink. It has always
been important to both Intrex and FiberChem that DecisionLink starts
off with a solid base to build from.
"We have developed several key strategic alliances over the past
six months that will help us achieve that. We hope to be in a position
to complete and announce some of these partnerships within the next
few weeks."
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, which 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 proposed
business combination with Intrex, the proposed bridge financing and
the combined entity's delivery of services over the Internet, are
forward-looking statements that involve risks and uncertainties. These
risks and uncertainties include FCI's ability to complete the
combination and the bridge financing, 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 customers' projects, customer payments
to the company and other risks detailed from time to time in the
company's SEC reports.
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