SOURCE: Conforce International, Inc.

October 07, 2010 08:00 ET

Conforce International Closes USD 2 Million Equity Financing

TORONTO--(Marketwire - October 7, 2010) -  Conforce International, Inc. ("Conforce" or "Company") (OTCBB: CFRI) is pleased to announce that it has closed an initial round of equity financing in the amount of USD Two Million ($2,000,000). The funds will be deployed by the Company to begin the first leg of commercializing EKO-FLOR for the highway trailer industry. Conforce will now move to establish production capacity in the U.S. to manufacture its proprietary composite flooring system engineered for the transportation industry. The Company expects that it will launch production of EKO-FLOR xts panels for delivery to the North American highway trailer market in January 2011. The Company also plans to establish its China based operations for delivery of EKO-FLORcs-4 panels to the container industry in third quarter of calendar 2011. 

The financing transaction was structured as a private placement between Conforce and the principals of venture capital and real estate development firm, Invar Building Corporation. The investment was priced in late July at $0.15 per share and in accordance with SEC Rule 144, the shares are restricted from trade for six months.

Conforce CEO Marino Kulas commented that, "The investment is an initial step towards capitalizing the first stage of our multi-platform production footprint. As a result, we are now in a position to provide much anticipated product delivery dates to the highway trailer industry."

About Conforce International

Management of the Company has been in the shipping container and highway trailer business for over 25 years. The Company has developed an innovative composite flooring system, EKO-FLOR, engineered to replace the outmoded hardwood flooring currently employed by the transportation industry. The Company is targeting its initial sales efforts on the container and trailer industries which have been aggressively seeking a viable replacement for apitong tropical hardwood and laminated oak flooring, respectively. EKO-FLOR is significantly lighter, stronger and more durable than wood. The product possesses superior quality and performance characteristics including complete resistance to stains, odors, absorption of oil or liquid chemicals, microbial and insect attack. EKO-FLOR will not corrode, delaminate or absorb water. The solution is cost-effective, has a reduced carbon footprint and is environmentally responsible. In 2009, Conforce and Bayer, a leading global material sciences conglomerate, became project partners for the purposes of commercializing EKO-FLOR. The product has been certified by the American Bureau of Shipping for use in ocean-going containers worldwide and recently passed TTMA RP-37 certification for use in highway trailers. The Company has commenced customer evaluations of its product with top-tier shipping lines and highway trailer manufacturers. For more information on the Company, please visit www.conforceintl.com.

Safe Harbor Act Disclaimer: Forward-looking statements in this release are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Certain statements in this press release may contain words such as "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "projects," "plans," "targets" and other similar language and are considered forward-looking statements. These statements are based on management's current expectations, estimates, forecasts and projections about the success of its newly developed container and trailer flooring products, as well as certain other composite based flooring products in various stages of development. These forward-looking statements are subject to important assumptions, risks and uncertainties, which are difficult to predict and therefore the actual results may be materially different from those discussed.

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