SOURCE: iPackets International, Inc.

January 17, 2007 09:45 ET

iPackets Appoints Two Directors to the Board of Its Chinese Joint Venture GuoAn Mine Safety Communication System

VANCOUVER, BC -- (MARKET WIRE) -- January 17, 2007 -- iPackets International, Inc. ("iPackets") (PINKSHEETS: IPKL), a developer and provider of wireless communications software and equipment for the mining industry, announced today the appointment of two directors to GuoAn Mine Safety Communication System's board of directors.

The two directors representing iPackets on GuoAn's board of directors are Mr. Naiel Kanno and Mr. Kouros Goodarzi, iPackets' President and Vice President of Engineering, respectively. Mr. Kanno will also serve as GuoAn's Vice-Chairman.

Under the terms of the recently announced joint venture agreement, GuoAn's board of directors will be comprised of seven members: iPackets has two seats, YongAn has four seats including the Chairmanship, and CCII has one seat.

Mr. Kanno commented: "We look forward to working with our partners and board members. Our first goal will be to establish the management of GuoAn and ensure the initial tasks defined are followed through." Mr. Goodarzi added, "This is a great opportunity for us to steer the efforts of GuoAn towards minimizing the time to market and eventually maximize the profits of the stakeholders."

About the Mining and Mine Safety Industries in China

There are more than 280,000 mining enterprises in China, 80,000 of which are state owned. Of the state owned mines, more than 700 are classified as large mines, which will soon face Chinese government mine safety regulations. Mine safety has been a major issue with more than 6,000 miners killed in China last year although independent estimates the real figure could be as high as 20,000 miners killed. According to Chinese government statistics, more than 12.2 million people were employed as miners in 2005, and approximately 7.0 million of these were coal miners.

About GuoAn Mine Safety Communication System, Inc.

GuoAn, with a registered capital of $12 million, is a Chinese Joint Venture between iPackets International, Henan YongAn Investment Guarantee Co., and China Coal Information Institute. GuoAn is responsible for the manufacturing, distribution, sales, marketing, installation, deployment, and support of iPackets' iPMine solution to the mining industry in China. The operation is based in the Province of Henan, China's second largest coal producing province.

About iPackets International, Inc. and iPMine

iPackets International is a developer and provider of wireless communications software and equipment for the global mine safety industry. iPMine, the company's flagship product designed to significantly improve the safety of miners and equipment, is a real-time two-way wireless communications solution that tracks, monitors, and communicates with miners and equipment underground and above ground. For more information, visit

Certain statements included in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations.

Contact Information

  • Contact:
    Allegiant Financial Group
    1 (604) 669-8098