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Gold/Mining/Energy : International Hi-Tech (IHI) -- Ignore unavailable to you. Want to Upgrade?

To: Ronald P. Margraf Sr. who wrote (453)	10/17/2001 12:17:23 PM
From: Raja	Respond to of 461

International Hi-Tech Industries Inc - Int'l Hi-Tech JV with HAD 2000 International Hi-Tech Industries Inc IHI Shares issued 62,244,141 Oct 16 2001 close $.780 Oct 16 2001 3:03:00 The Canadian Venture Exchange has accepted for filing an interim agreement dated Jan. 23, 2001, between the company's 51-per-cent-owned subsidiary, IHI International Holdings Ltd., and HAD 2000 Corp. (Ronald Konitzer) whereby IHI International has agreed to form a joint venture with HAD to promote, develop and market the products of its house construction technology and to establish and operate the manufacturing of a factory in the state of Illinois. HAD is required to pay a $1.25-million (U.S.) licence fee (an irrevocable $100,000 (U.S.) has been paid with the remaining $1.15-million (U.S.) due on the earlier of Oct. 24, 2002, and the establishment of the joint venture) to IHI International upon formation of the joint venture. In addition, HAD will contribute $1.2-million (U.S.) to the joint venture to finance factory construction and business operations for a 49-per-cent interest in the joint venture. Of the $12-million (U.S.), HAD is required to pay $1-million (U.S.) upon formation of the joint venture (expected to be in six to 12 months time), $3.3-million (U.S.) two months after formation of the joint venture, a further $2.2-million (U.S.) upon shipment of the panels necessary to construct the joint venture's factory, a further $2.6-million upon shipment of the equipment for the factory and the balance of $2.9-million on substantial completion of the factory. IHI International will earn a 51-per-cent interest by contributing to the joint venture, the exclusiv Remainder available to Stockwatch subscribers... (c) Copyright 2001 Canjex Publishing Ltd. canada-stockwatch.com --------------------------------------------------------------------------------

To: Ronald P. Margraf Sr. who wrote (453)	1/10/2002 11:11:16 AM
From: Raja	Read Replies (2) \| Respond to of 461

IHI announces commercial production, preferred share issue and more patent approvals Trading Symbols: CDNX: IHI OTCBB: IHITF VANCOUVER, Jan. 10 /CNW/ - International Hi-Tech Industries Inc. (IHI) (CDNX:IHI; OTC BB:IHITF) today is pleased to announce that commercial production began at its Delta, BC factory at the end of December 2001. IHI has been contracted by several companies to develop products using its panellized building design and manufacturing system. Projects currently underway include the development of a mobile construction site office prototype and a mobile worker accommodations prototype. The latter project is designed for use in the extreme temperature conditions and sandstorms of the Middle East. In addition, IHI is working on producing advanced environmental panels, which can be used to build portable concrete roadways without the use of a crane. IHI also has been contracted to develop a sound- and fire-proof container for mechanical storage use within existing structures. Several projects with joint venture partners also are underway and include a show home and a prototype for a modular and fully-customizable warehouse to suit any storage function, from trucks to refrigerated goods, et cetera. "We are very pleased to have begun commercial production of a broad range of applications for IHI's revolutionary building technology," said Roger Rached, President of International Hi-Tech Industries Inc. "These projects mark the realization of commercial sales and provide additional opportunities for our joint venture partners to actively market our technology and products." "We continue to negotiate a number of large building contracts locally and overseas and the response to our technology remains very strong," said Mr. Rached. "IHI expects that two joint venture factories will be constructed during 2002 and that more will follow in the years ahead to meet increased demand for IHI's patented modular and cost-effective construction." PREFERRED SHARE ISSUE IHI also announced today that it has agreed to issue approximately 2.5 million Series 3 Preferred Share Units at $1.00 per unit for gross proceeds of approximately $2.5 million. This issue is the last of the five million Series 3 Preferred Share Units that are authorized. Each Series 3 Preferred Share will be accompanied by 0.5 of a Warrant to acquire a Common Share over a two year period extending from the date of issuance of the Units at a price of $1.30 per Common Share. The Preferred Shares are convertible at the rate of 0.77 Common Shares for each Series 3 Preferred Share for a period of two years at the option of the holder. The Preferred Shares are also convertible at the option of IHI if the closing price of the Common Shares on the Canadian Venture Exchange averages at least $2.50 per Series 3 Preferred Share. All Series 3 Preferred Shares will be automatically converted to Common Shares on the second anniversary of the issue date. Dividends on the Series 3 Preferred Share are cumulative and will accrue each day on each said share on each day that each share is outstanding at an annual rate equal to 12%. The net proceeds will be used to pre-fund all the Company's dividend obligations in respect of the Series 3 Preferred Shares, to pay the balance of the monies needed for further equipment, and for working capital. The placement is subject to regulatory approval. IHI has received $250,000 in consideration for this issue of Series 3 Preferred Shares. PATENTS ISSUED IHI also announced today that additional patents covering its building technology have been granted in China, issued in Singapore (No. 52164), Czech Republic (No. 288791), and Liberia (No. 00016), and accepted in Armenia, Israel, Philippines, and Romania. Two divisional patent applications also have been accepted in Czech Republic. These patents encompass IHI's earthquake, wind, and fire resistant pre-fabricated building panels, as well as structures made from these panels. IHI now has 72 patent claims fully-issued in more than 133 countries and pending in another 47 worldwide. International Hi-Tech Industries Inc. is a company whose principal business is the development and commercialization of a new building system in Canada, and internationally through its subsidiary, IHI International Holdings Ltd. ON BEHALF OF THE BOARD OF DIRECTORS "ROGER A. RACHED" ----------------- ROGER A. RACHED, PRESIDENT THE CANADIAN VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. For further information please visit the company's website at www.ihi.ca or contact: Roger A. Rached, President, Telephone: (604) 733-5400, Email: info@ihi.ca