VANCOUVER, Jan. 13 /CNW/ - Icron Systems Inc.
CDNX:ICM
Icron Systems Inc. previously announced on December 17, 1999 that it
entered into an agreement with King Capital Corporation (``King Capital') of
Vancouver, BC, to provide investor relations services on behalf of Icron. The
public relations initiative being undertaken by King Capital is designed to
increase the profile of Icron and to enhance public and client knowledge of
Icron's USB technology domestically and internationally.
The Canadian Venture Exchange has requested that Icron disclose
additional details of that agreement under new policies.
Icron's agreement with King Capital is for an initial three month term
with automatic renewal for a further 3 months unless either party provides
notice of termination in writing by at least 30 days prior to termination of
the initial term. Under the terms of the agreement, Icron shall pay King
Capital $6,000 per month for a maximum period of 6 months effective December
15, 1999 to June 15, 2000. In addition, Icron has agreed, subject to
regulatory approval, to grant Cameron King, the President and sole Director of
King Capital, an option to purchase 50,000 shares at $.40 per share
exercisable for a period of five years.
Icron Systems Inc. of Vancouver, BC has invented ExtremeUSB(TM)
technology, a practical means of extending the range of USB connections from
15 feet (5 meters) to over 300 feet (100 meters). Icron has applied for
patents covering its inventions and is integrating this technology into a
series of products for PC users. Icron has established the ExtremeUSB(TM)
Team of companies to increase the total market for USB products by enabling a
broad set of new applications based on ExtremeUSB(TM). Icron is a publicly
traded company and trades under the symbol ICM on the Canadian Venture
Exchange.
NOTE: The company relies on litigation protection for ``forward-looking'
statements.
THE CANADIAN VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. |
