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

To: AL who wrote (2018)	1/12/1999 7:06:00 PM
From: Ginco	Read Replies (1) \| Respond to of 2444

This press release from ISDN Wire Service seems to have more info. Tuesday January 12, 3:32 pm Eastern Time FULL TEXT-Napier Intl buys control of co (Full text of press release from ISDN Wire Service) NAPIER ACQUIRES CONTROL OF CONSOLIDATED ECOPROGRESS AND A WATER SOLUBLE, BIODEGRADABLE ALTERNATIVE TO PLASTIC VANCOUVER, BRITISH COLUMBIA, Jan 12 - Napier International Technologies Inc. (NIR.TSE) is pleased to report that it has acquired a controlling interest in Consolidated Ecoprogress Technologies Inc. (CES-V). The acquisition has been initiated through the purchase by private placement of 2,376,471 common shares at an average cost of $0.295 per share and 1,776,471 share purchase warrants exercisable at an average price of $0.31 per share. In addition Napier has secured the first right of refusal to participate in up to 80% of any funding requirements by Ecoprogress for the next two years. As a result of the private placement, Napier owns 38% of the issued and outstanding shares of Ecoprogress or 41% on a fully diluted basis. Napier nominees will hold two of five directorships on the board of Ecoprogress. Ecoprogress has acquired exclusive licensing rights in Canada and is negotiating to acquire additional distribution rights for a technology involving the manufacturing of a water soluble and biodegradable plastic-like film known as ''B-9(TM)''. The B-9(TM) film is a composite material which is impervious to water on one side like plastic yet it is completely soluble and biodegradable when contacted by large volumes of water on the other side. These unique properties are a major technological breakthrough which can solve some of the most concerning environmental problems of today. Ecoprogress and its licensor have used the B-9(tm) film to develop certain products for the following broad target markets: 1) Disposable Absorbent Products * Diapers for infants. * Feminine hygiene products, - Maxi-pads, panty-liners, etc. * Diaper shields and underpads for incontinence. * Wound care dressings. * Disposable garments used in hospitals and dental offices. The technology can also be adapted through the use of certain resins which lend themselves to injection moulding or thermo-forming processes to produce bottles, containers, or trays that maintain their integrity in contact with cold water but will completely dissolve if submerged in hot water. The unique property of B-9(tm) is used to advantage the following sector: 2) Disposable Container Products * Containment pouches for urine and fecal matter by persons suffering incontinence during surgery or by the disabled. * Pill bottles, syringes and similar container products. * Packaging for cosmetic preparation. * Replacement for virtually any plastic packaging. Napier's management believes the market potential for such products is so significant that it has taken an aggressive approach to securing significant exposure for its shareholders to this innovative technology. The first product which has hit the retail stores with remarkable participation at the entry level is a broad line of feminine hygiene products. Marketed under the brand name ''Simplicities(r)'' Ecoprogress has developed the first fully flushable and biodegradable sanitary napkin. So successful is the design of the product that in 1996 it was awarded the highly acclaimed Environmental Choice Ecologo(M) Certification for the flushable and biodegradable sanitary napkin. In order to achieve this status, the product underwent rigorous testing to ensure compliance with licensing criteria. This progressive solution for a global environmental challenge appears to be capturing attention from the retail distribution chains. Ecoprogress has recently achieved significant exposure in Western Canada with its Simplicities(r) brand and is pursuing arrangements with national and eastern Canadian distribution outlets; the following outlets have already commenced carrying the product: British Columbia Alberta Overwaitea Foods SAVE-ON-FOODS SAVE-ON-FOODS IDA IGA Value Drug Mart Caper's Guardian Drugs Cooper's Foods Apple Drugs Quality Foods Community Drug Mart IDA Community Drug Mart Value Drug Mart This feminine hygiene market area represents $240 million from Canadian consumers alone while the worldwide market has been estimated at $9 billion on an annual basis. An even larger targeted sector is for the production of a biodegradable diaper. About 1.7 billion disposable diapers valued at $400 million are being contributed to Canada's solid waste management system per year. Although significant, this number pales in comparison to the 55 billion disposable diapers sold yearly around the world. Accordingly, Ecoprogress is currently testing a range of diapers in all sizes that will disintegrate in processors in hospitals or can be removed for biodegradation in composts or landfill sites for everyday use. Other interesting potential markets include, Canadian sales of adult incontinence pads in 1992 reached $18.5 million, and the value of annual sales of containment pouches in Canada exceeds $100 million. Napier has also gained exposure for its own products to the marketing talents of Mike Daniels, Brian Besco and Mike Donald, marketing specialists and management team of Ecoprogress. The fact that Ecoprogress will remain an independently run and trading company will limit the distraction for both groups so that they can continue with their main areas of focus. Napier management will continue to vigorously pursue our entry into the 1/2 billion dollar coatings removal business where we have achieved such significant milestones through our environmentally friendly coatings lifter technology. There has been no material change to account for recent share price weakness from Napier's ongoing core business. However, Napier's management firmly believes that by continuing to pursue technological solutions to global environmental challenges, management can build a diversified and leveraged opportunity for our shareholders. Additional detailed information can be gained by calling either Jason Cubitt or Greg Thomas at Napier (604-801-6664) or Kevin Crawford at Ecoprogress (604-738-7011). ON BEHALF OF THE BOARD OF DIRECTORS NAPIER INTERNATIONAL TECHNOLOGIES INC. Bradley T. Aelicks website:www.napierintl.com President/Director ref:c/nir99-01 THE TORONTO STOCK EXCHANGE NEITHER APPROVES NOR DISAPPROVES THE CONTENTS OF THIS NEWS RELEASE WHICH WAS PREPARED SOLELY AT THE DISCRETION OF MANAGEMENT. -------------------------------------------------------------------------------- More Quotes and News: Napier International Technologies Inc (Toronto:NIR.TO - news) Related News Categories: health, US Market News