`F' DENOTING FOREIGN ISSUER STATUS REMOVED FROM INTERNATIONAL ABSORBENTS TRADING SYMBOL
BELLINGHAM, WA, May 16, 1997... International Absorbents Inc. (OTC: IABS), is pleased to announce that the `F', denoting foreign issuer status, has been removed from the Company's trading symbol. The symbol, effective immediately, has been changed to IABS from IABSF.
The Company recently submitted documentation to the National Association of Securities Dealers supporting its contention that it should not be considered a foreign issuer. This was due to the fact that more than 90 percent of International Absorbents' shareholders and assets are U.S.- based. Accordingly, the NASD determined that the Company does not meet the definition of a foreign issuer as defined in Exchange Act Rule 3b-4c and removed the `F' from the trading symbol.
International Absorbents Inc. is a holding company that through its
wholly-owned subsidiary, Absorption Corp., develops, manufactures and
markets patented and proprietary, cost- effective sorbent products derived from waste wood fiber. These environmentally safe products outperform conventional products used in a broad range of industrial and consumer applications, including oil and hazardous liquid spill cleanup and control, oil/water filtration, packaging and commercial/retail animal bedding and litter.
Further information about International Absorbents is available at
www.absorbent.com.
Contact:
Charles (Chuck) Tait
International Absorbents Inc.
(604) 681-6181
This press release may contain forward-looking statements with respect to the operations and business of the Company that involves risks and
uncertainties. These risks and uncertainties are detailed from time to time in the Company's filings with the Securities and Exchange Commission.
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