Icron receives $500,000 loan from government program

January 13 1999


DELTA, BC, – Vice President of Business Development, David Dunnison announced today that Icron has been awarded $500,000 support from the Government of Canada. Icron will use these funds to bring enhanced Universal Serial Bus (USB) Network Products to market. Under this program, Icron will receive a $500,000 loan from the Industrial Research Assistance Program’s (IRAP) Precommercialisation Assistance. Icron will provide $1 million in co-funding for the overall $1.5 million project. Precommercialisation Assistance is co-funded by the National Research Council’s IRAP and Technology Partnerships Canada (TPC). This investment will help the firm prepare a number of new USB enhancement products. The project is expected to contribute to the creation of a number of new high tech jobs at Icron’s facility on Annacis Island over the next two years.

“With this Precommercialisation Assistance, Icron Systems will bring universal applicability to USB by introducing products that significantly extend its range,” said Mr. Dunnison. “The USB products we bring to market will provide fundamental improvements to USB connectivity and will provide a path for a number of new USB applications to be developed. Icron’s products will enable conventional USB devices to be used in a LAN environment. These products will be applicable to virtually all business segments including the home office as well as the residential market. “

Alan Guest of the National Research Council Canada added “Through Precommercialisation Assistance from IRAP, the Government of Canada is supporting innovation that results in job creation and economic growth. Icron Systems has already demonstrated that it is the type of energetic, innovative firm creating high tech career opportunities for Canadians that we endeavor to support. We are excited about this project and look forward to Icron’s new products.”

Contrary to the News Release of Dec. 31/98, Lissa-Maria Pietracupa will not become Secretary of Icron. Mr. Kelly Edmison will continue as the Secretary in addition to being a Director of the company.

Note: The company relies on litigation protection for “forward-looking” statements. The Canadian 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.