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Monday April 26, 2:49 pm Eastern Time
Company Press Release
SOURCE: Integrated Carbonics Corp.
ICCN announces formal signing ceremonies of a cooperative joint venture agreement with the Yichang Hubei Graphite Group
YICHANG, HUBEI PROVINCE, THE PEOPLE'S REPUBLIC OF CHINA,
April 26 /CNW-PRN/ -
Integrated Carbonics Corp. (OTC:BB ICCN) announces the formalization of a Cooperative Joint Venture Agreement with the Yichang Hengda Graphite Group Co. Ltd. of Yichang, PRC. This milestone will enable the two parties to begin the final process toward receiving a business license to operate the new joint venture Company, to be named ''Yichang Integrated Carbonics Co. Ltd.''
Commenting during the formal signing ceremony, ICC president, Mario Aiello stated:
''....we are very pleased with our mutual progress and the
expanding operations at the facilities. We especially appreciate
the ongoing support and cooperation of the government of Yichang
County and the management of our new joint venture partner.''
Under the terms of the agreement, ICC will own 55% of the Yichang Integrated Carbonics Co. Ltd., which will own the following assets:
1. Mineral Rights to a 6,000,000 (proven and probable) ore deposit in
Yichang County, grading up to 20% graphite.
2. A new 10,000 tpa flotation and concentrate production facility
that is currently producing flake graphite concentrate of 95%
purity or better, and;
3. A 1,000 tpa graphite sheet (foil) operation and related facilities,
including a 1,000 tpa expandable graphite plant.
Integrated Carbonics Corp. is well positioned to become a specialty graphite and graphite products producer within the $8 billion worldwide graphite industry. ICC is concentrating its development efforts in China through the completion of joint venture arrangements covering five graphite processing projects. ICC's two Chinese joint venture partners are recognized worldwide within the graphite industry.
This News Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to the risks and uncertainties that could cause actual results to differ materially. Such risks and uncertainties include, but are not limited to, those related to business and financial conditions, the Company's ability to attract sufficient finance project and operating financing and the ongoing viability of the graphite industry.
SOURCE: Integrated Carbonics Corp.
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