International Bio Recovery Corporation
TSX VENTURE : IBR

International Bio Recovery Corporation

December 16, 2010 10:00 ET

IBR Announces Name Change

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 16, 2010) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES

International Bio Recovery Corporation ("IBR") (TSX VENTURE:IBR), a developer and marketer of proprietary technologies for the production of organic-based, high-value agricultural products from organic wastes, announces that shareholders approved a name change for the company at the Annual General Meeting held on December 8, 2010.

The new name will be Terrabiogen Technologies Inc., which speaks to the company's focus on biotechnology based, agricultural market-driven process and product development and sales. The change of name becomes effective following the approval of the TSX Venture Exchange and the issuance of a new CUSIP (Committee for Uniform Securities Identification Procedures) number. The Company expects these to be completed before year end.

Blair Heffelfinger, President and CEO of the Company, stated that the name change represents a new beginning for the Company. "Our focus is to capitalize and exploit the science behind our products and processes. This will involve further process improvement and optimization, and improved product formulation for our targeted markets. The end result will be exceptional product value at the lowest cost base for our customers."

About IBR

Located in North Vancouver, BC, IBR is committed to research and development to continue to improve the efficiency of its technology and the quality of Genica branded agricultural products. It is further committed to developing a world wide marketing capability to ensure market acceptance of the Genica products.

This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although IBR believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of IBR's management on the date the statements are made. Except as required by law, IBR undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • International Bio Recovery Corporation
    Blair Heffelfinger
    President & CEO
    (604) 924-1023 ext 316
    bheffelfinger@ibrcorp.com
    or
    International Bio Recovery Corporation
    Bob Nowell
    CFO & Corporate Secretary
    (604) 924-1023 ext 306
    (604) 924-1043 (FAX)
    bnowell@ibrcorp.com