Icron Retains First Canadian Capital Corp.

BURNABY, B.C., October 8, 2002 – Icron Technologies Corporation (TSX Venture: IT), a leading provider of extended range, high performance connectivity technologies for the industrial and commercial computing marketplace, today announced that it has, subject to review and acceptance by the TSX Venture Exchange, retained First Canadian Capital Corp. (“FCCC”), a Toronto-based company specializing in corporate finance and communications.

FCCC will provide Icron with investor relations services. The agreement between Icron and FCCC is for an initial period of 3 months and can be extended by the mutual agreement of the parties for further periods of time. FCCC is a full and comprehensive provider of corporate finance and investor relations services and will assist Icron to foster productive, ongoing dialogues with analysts, brokers, investors and other investment professionals.

Mr. Suresh Singh, Icron’s President and CEO commented, “We are pleased to have retained First Canadian Capital as our investor relations resource for the Eastern Canadian markets. We chose FCCC because of their expertise, record of success and our mutual understanding that a proactive approach is necessary to convey a company’s full and fair value to the marketplace. They have an excellent track record in working with companies that are demonstrating significant long-term growth prospects and assisting them in communicating effectively with investors. They have demonstrated a specific commitment to micro-cap companies and have had recent successes in the market.”

FCCC will receive a monthly retainer of $5,000 for the initial term of the agreement and will be granted options to purchase 75,000 common shares of Icron Technologies at a price of 30 cents ($0.30) per share. The options granted will vest according to the standard terms of the company’s plan.

Icron Technologies Corporation of Burnaby, B.C. Canada, designs and markets technologies that bring the benefits of Universal Serial Bus (USB) to commercial and industrial computing marketplaces. Icron has invented ExtremeUSB┬╣ technology, a practical means of extending the range of USB connections from 5 meters to over 2 kilometers. Icron has been granted patents that cover its inventions and Icron’s USB Ranger┬╣ products are the only USB extenders that are compliant with the USB Implementers Forum’s requirements.

Icron’s ExtremeUSB technology and products touch several large vertical markets from industrial process control to multimedia post-production facilities worldwide. The company provides packaged product solutions, Original Equipment Manufacturer (OEM) modules, developer kits, and engineering and development services. Icron is working with a number of partner companies to integrate its technology into products for various computing applications.

Icron is a publicly traded corporation and trades under the symbol “IT” on the TSX Venture Exchange.

Icron Contacts:

Investor Relations Contact – Eastern Canada
Jason Monaco (FCCC)
Phone (416) 742.5600
Fax (416) 742.6410
Investor Relations Contact – Western Canada
Ashiff Jivraj
Phone (604) 638.3923
Fax (604) 638.3930
Marketing Contact – Icron
Kevin Lee
Phone (604) 638.3924
Fax (604) 638.3930

 

Note: The company relies on litigation protection for “forward-looking” statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

 
FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all statements in this news release – including, without limitation, statements regarding production estimates and future plans and objectives of Icron – are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.