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Gold/Mining/Energy : Napier International Technologies Inc. (T.NIR) -- Ignore unavailable to you. Want to Upgrade?

To: Alastair who wrote (288)	6/7/1998 9:54:00 PM
From: Ginco	Respond to of 2444

Aquasol International Inc. a private corporation operating out of Alberta, Canada. Aquasol International not Aquasol International Group Canadian Company Press Release ÿ NIRÿÿ1998-04-21 ÿÿ(provided courtesy of ISDN Wire Service) NAPIER ANNOUNCES MERGER AND PRIVATE LABELING AGREEMENT VANCOUVER, B.C-- Napier International Technologies Inc. (NIR.TSE) is pleased to report that it has reached an Agreement in principle to acquire all of the outstanding shares of Aquasol International Inc. a private corporation operating out of Alberta, Canada. Aquasol International has developed, and is marketing, an environmentally friendly product known as the Aquasol Solution that is used as a cleansing solution to wash metal surfaces before painting or re-painting. The Aquasol Solution has proven to be the most effective cleanser of both chlorides (salt) and hydrocarbons (oil) available to the coatings industry. The Aquasol Solution is unique enough that the largest coatings company in the world, I.C.I. Paint, a member of the I.C.I. world group of companies, whose Industrial Group operates under the I.C.I. DEVOE Coatings Label, has recently signed a private labeling agreement to market Aquasol under their own brand name, "Hydrosol 700". In fact, I.C.I. is currently writing specifications for the Hydrosol Solution to be used as a warranty requirement for particular projects and coating applications. At a recent presentation by I.C.I., attended by Napier's Chairman Brad Aelicks, it was indicated that a large amount of industrial coatings failures are the result of surface contamination before coatings application. The use of the Hydrosol Solution will eliminate, to the greatest extent currently possible in the industry, the risk of coatings failure due to surface contamination of chlorides and hydrocarbons. The agreement between I.C.I. and Aquasol, projects that I.C.I. DEVOE Coatings will purchase a minimum $1.6 million of Aquasol Solution during the first year of the private labeling agreement. Sales of the Aquasol Solution are expected to increase as internal presentations are made throughout I.C.I.'s vast marketing arm, which covers 163 countries. Napier International Technologies Inc. is also pleased to announce that it has entered into negotiations, through Aquasol International, with I.C.I. DEVOE Coatings for a private labeling agreement to market Napier's SV-35 line of environmentally friendly chemical strippers. The combination of Napier's SV product line with the Hydrosol 700 will allow I.C.I. to substantially control the entire process of refurbishing from the start of the job to the finish in many instances. Ron Graham, contracted to I.C.I. as an Industrial Maintenance Coating Specialist, states that "The amalgamation of Napier's SV-35 environmentally friendly chemical strippers, the environmentally advantaged Aquasol cleansing solution and I.C.I.'s expertise in coatings and marketing will be the most significant event for the refurbishing industry in recent history." The market potential of these two products cannot be fully reviewed in this release but the following example will illustrate the magnitude of potential at hand. Currently in North America there are an estimated 925,000 above-ground storage tanks, predominantly used for the storage of oil and petroleum products. The refurbishment of these tanks requires washing with a cleansing fluid, often before and after stripping, then the stripping of both outside and inside surface areas. The market potential for this industrial application alone is expected to approach $100 million annually. Presently, the dominant method for removing coatings from these tanks is sandblasting because the toxic chemical strippers cannot be cost-effectively used within a closed structure. Sandblasting, although effective, can embed hydrocarbons and soluble salts into the metal surface which may be very difficult to remove and thereby compromise the coatings system to be installed. Napier's SV strippers are non-toxic, non-hazardous and emit no volatile vapors, qualifying them for use inside these structures. In addition, because the SV series lifts from the bottom up they will actually remove a great deal of the contaminants which remained on the surface after initial cleaning. On completion of the stripping the Hydrosol 700 cleaning solution will easily remove residual hydrocarbons and soluble salts (such as chlorides) in a final wash prior to abrasive blasting for emersion service tanks and vessels . Collectively, the use of SV series strippers and Hydrosol 700 will greatly reduce the risk of premature coating failure. Aquasol International has also formed a strategic relationship with Brandt Wadeco, a division of Tubescope Vetco Group which is the largest solids control company in the world with operating subsidiaries in 57 countries. Brandt Wadeco has licensed a closed-loop process (that has been patented by Aquasol) for the removal of salts and hydrocarbons from produced sands and oil based drill cuttings. The Aquasol Process will also have significant application for the remedial cleansing of contaminated sands. The proposed transaction between Napier and Aquasol will be undertaken by way of a plan of arrangement which will be subject to a 30-day due diligence review by both companies, the approval of Aquasol shareholders and is also subject to Napier obtaining regulatory approval. The arrangement will require Napier to issue 5,934,597 common shares or approximately 16% of its share capital on a fully-diluted basis to Aquasol shareholders. Napier and Aquasol have further agreed, irrespective of the above noted transaction, to immediately enter into a mutual private labeling agreement so as not to delay the subsequent private labeling agreement with I.C.I Therefore, if the plan of arrangement between Napier and Aquasol does not complete, both companies will nonetheless obtain certain exclusive marketing rights for the others' product. Further product information may be obtained by calling 604-888-5332. Investor Relations questions should be directed to Jason Cubitt at 604-801-6664. ON BEHALF OF THE BOARD OF DIRECTORS (signed) Bradley T. Aelicks Chairman/Director The Toronto Stock Exchange neither approves nor disapproves of the contents of this News Release which was prepared solely at the discretion of the Management.

To: Alastair who wrote (288)	6/7/1998 10:06:00 PM
From: David in Ontario	Read Replies (1) \| Respond to of 2444

Alastair - welcome: Thanks for the Aquasol SEDAR link - effort is appreciated - but this URL was mentioned in Msg.#164. It seems like ages ago when I posted it - but it's just been a couple of weeks. In brief: Aquasol International is a private company with private shareholders. The stock doesn't trade on any exchange. The SEDAR URL shows the company name that Aquasol was going to use when they considered going public - but never did - and SEDAR never updated their web page. Check with Aquasol in Calgary tomorrow for verification is you wish - same phone number as on the SEDAR web page. If your new to NIR - there's nothing to it but to read the last two months worth of posts to get a feel for what's happening. Big things will happen this week - and if NIR is open for trading tomorrow - then it may well be the last chance for you to get in at what I believe to be bargain basement prices - sentiment shared by others (e.g., Rich Kaiser). Good luck and thanks for the info. David in Ontario