Innovative Composites International Inc.
TSX VENTURE : IC
OTCQX : ICIZF

Innovative Composites International Inc.

June 04, 2013 16:51 ET

Innovative Composites International Files Fiscal 2013 Second Quarter Financial Results

TORONTO, ONTARIO--(Marketwired - June 4, 2013) - Innovative Composites International Inc. (TSX VENTURE:IC)(OTCQX:ICIZF), a producer of proprietary engineered composite products, has filed its financial results for the fiscal 2013 second quarter ended March 31, 2012 under its profile on www.sedar.com.

The Company also announces that a total of 500,000 options, previously granted on March 20, 2013, have been cancelled, as follows: (i) 200,000 options previously granted to Mark Rivers (exercise price of $0.20 and a term of 7 years) have been cancelled, as these were granted to Mr. Rivers in his capacity as an independent director, which he no longer is due to his appointment as interim Chief Executive Officer; and (ii) 200,000 options previously granted to Terry Ball (the current President and COO) and 100,000 previously granted to Sam Greiss (the previous CFO) (all having exercise prices of $0.10 and a term of 7 years) have been cancelled, as these contained vesting provisions contingent on successful completion of a financing initiative that did not proceed.

About Innovative Composites International Inc.

Headquartered in Toronto, Canada, Innovative Composites International Inc. is a high-tech engineering and manufacturing company whose goal is to utilize its proprietary "green" composite materials and building systems to provide innovative, engineered product solutions to markets that include prefabricated modular housing, shelters and containers, and industrial applications.

To find out more about ICI please visit our website at: www.innovativecompositesinc.com.

Follow us on www.waggle.ca.

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

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