V1 - Looks like the host state and city are pleased as punch with the new kid on the block:
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Friday September 12 8:58 AM EDT
Company Press Release
Source: International Isotopes Inc.
International Isotopes Receives Commendation From State of Texas and City of Denton
State of Texas Legislature Passes Resolution Supporting Industry Using Super Collider Assets
DENTON, Texas, Sept. 12 /PRNewswire/ -- International Isotopes Inc. (Nasdaq: INIS; BSE: ITL) today announced that the State of Texas, House of Representatives has passed a resolution (Number 310), commending the Chairman and the Board of Directors of International Isotopes for their efforts in establishing a radioisotope production facility utilizing many of the assets of the Super Collider project. The legislators recognized the potential of this initiative to strengthen Texas' ties to the burgeoning field of diagnostic and therapeutic nuclear medicine through commercial radioisotope and radiopharmaceutical production.
The House Concurrent Resolution also recognizes International Isotopes for its offer to assist in the donation of land appraised at over $1 million to be used in the establishment of Texas' first college of radiopharmacy for the study and use of medical isotopes. In addition, the Board of Directors of the Denton (Texas) Chamber of Commerce recently passed a resolution formally supporting International Isotopes and its decision to make a substantial investment in the economy of Denton, Texas.
``We are extremely pleased by the unequivocal support afforded us from the Governor, State of Texas Legislature and City of Denton,'' stated Ira Lon Morgan, Ph.D., Chairman of International Isotopes Inc. ``We are proud to contribute to an industry that will not only generate jobs and revenue for the Texas economy but also accelerate the advancement of health care and keep our state at the forefront of scientific advancement into the 21st century.''
In 1996, International Isotopes acquired the equipment, proprietary designs and certain intellectual property rights comprising the proton linear accelerator injector (LINAC) that was part of the U.S. government's 53-mile Superconducting Super Collider project which was terminated by Congress in 1994. International Isotopes recently completed an Initial Public Offering (IPO) raising approximately $20 million to reconfigure the LINAC and to establish International Isotopes as the first domestic producer of a full range of pharmaceutical grade radioisotopes and radiopharmaceuticals for commercial sale to the nuclear medicine industry. The Company has begun construction of facilities for administration, manufacturing and radioisotope production in Denton, Texas. The IPO funds will allow the company to pay off debt and complete the current Good Manufacturing Procedures (cGMP) facilities for radioisotope and radiopharmaceutical production.
International Isotopes Inc. plans to be the premier supplier of radioisotopes for the production of diagnostic and therapeutic radiopharmaceutical for the nuclear medicine industries. The Company and its internationally recognized management team are also developing instrumentation for radiation therapy and medical imaging.
Statements in this press release that are not strictly historical are ``forward looking'' statements as defined in the Private Securities Litigation Reform Act of 1995. The actual risks and uncertainties that exist in International Isotopes Inc.'s operations and business environment are described more fully in the Company's prospectus filed with the Securities and Exchange Commission. The Company disclaims any obligation to update statements in this press release.
SOURCE: International Isotopes Inc. |
