IRI Separation Technologies Inc.
TSX VENTURE : IRI

IRI Separation Technologies Inc.

June 07, 2007 11:32 ET

IRI Separation Technologies Announces Five Year Distribution Contract for General Immunoglobulin

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 7, 2007) - IRI Separation Technologies Inc. (TSX VENTURE:IRI) is pleased to announce that it has signed a non-exclusive five-year supply and distribution contract with PharmaNutrients Botanical Corp. (Buyer) and Natural Health Solutions Inc. (Distributor) for the purchase, encapsulation and distribution of general Ig to North America and Asia. The contract will take affect July 1, 2007.

"We are very pleased to announce this new contract with both PharmaNutrients Botanical Corp. and Natural Health Solutions Inc.," stated John Mason, President of IRI Separation. "With this contract, we are now able to bring our revolutionary product to two of the largest nutraceutical markets in the world-North America and Asia."

Terms of the joint contract include:

1) The Buyer shall purchase the blended Ig general protein (minimum 45 percent Ig content) for $500 per kilogram with the option to purchase an unblended Ig general for $800 per kilogram.

2) The Buyer shall purchase the following quantities of blended Ig general protein from the Seller:

I. Beginning July 1, 2007, and for each of the following three consecutive months, the Buyer shall purchase a minimum of 100 kilograms of blended Ig general protein per month; the first 100 kilograms shall be supplied for sample product and will be free of charge.

II. Beginning October 1, 2007, and for the each of the following three consecutive months, the Buyer shall purchase a minimum of 400 kilograms of blended Ig general protein per month; and

III. Beginning on January 1, 2008, and for each month thereafter until the end of the Term of this Agreement, the Buyer shall purchase a minimum of 1,000 kilograms of blended Ig general protein per month.

3) When sales reach 60,000,000 capsules in any calendar year IRI Separation will receive a fee of 50 cents per 60 capsules payable within 90 days of the year end.

4) It is the Buyer's obligation to ensure that all labels and advertising relating to the Product sold hereunder must strictly comply with all applicable rules and regulations of the Canadian Food Inspection Agency ("CFIA"), Health Canada, the U.S. Food and Drug Administration ("FDA"), and all other applicable laws, rules and regulations, including but not limited to those set out above, relating to the Product ingredients.

IRI Separation is able to meet these production levels at the existing facilities and is reviewing other specific and general Ig distribution opportunities.

About PharmaNutrients Botanical Corp.

PharmaNutrients Botanical Corporation is a major nutraceutical raw material supplier to the Canadian natural health industry and foreign markets. The company offers a wide range of the finest quality assured bulk ingredients with the most comprehensive selection of scientifically researched molecules and cutting-edge technologies; targeting the fields of performance, longevity, immunity, oral chelation and therapeutic applications.

About Natural Health Solutions Inc.

Natural Health Solutions Inc. is a British Columbia company involved in the distribution of a variety of health products in retail outlets and online. Their existing product line includes 15 different items for a variety of health related matters. Natural Health Solutions Inc. is pleased to be able to expand its product line with a natural health product like Immunoglobulin. The Natural Health Solutions Inc. marketing team is very excited about having the opportunity to launch these new products in the North American and Asian markets.

About IRI Separation Technologies Inc.

IRI Separation Technologies Inc. (TSX VENTURE:IRI) is a biotechnology company that specializes in the extraction, development and commercialization of monoclonal and polyclonal immunoglobulin antibodies for virus and bacteria related health issues. Intended for use as a nutraceutical for human consumption, the antibodies are derived from bovine whey and chicken eggs. The immunoglobulin antibodies are intended for both the general and specific antibody market.

On behalf of the Board of Directors, John Mason, President and CEO.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Ascenta Capital Partners Inc.
    Keir Reynolds
    Investor Relations
    (604) 628-5800 or Toll free: 1-866-684-4209
    Email: keir@ascentacapital.com
    or
    IRI Separation Technologies Inc.
    John Mason
    Vancouver Office
    (604) 807-8694
    (604) 926-1485 (FAX)
    Email: jmason@iriseparation.com