October 12 2000
Icron Systems, Inc. announces today that it has received a final receipt for its prospectus dated October 3, 2000.
The prospectus was filed with the British Columbia Securities Commission and Ontario Securities Commission, qualifying in British Columbia and Ontario the distribution of 2,933,700 Common Shares and 1,466,850 Warrants issuable upon the exercise of 2,667,000 Special Warrants previously issued by Icron on March 28 and April 20, 2000 at a price of $1.20 per Special Warrant. The Special Warrants will be deemed to have been exercised on and the Common Shares and Warrants will be issued effective October 16, 2000, being the fifth business day following the date of the final receipt.
Each Warrant will entitle the holder to acquire one Common Share at an exercise price of $1.70 per share on or before March 28, 2001. The net proceeds of this offering will be used to further develop and market the Corporation’s ExtremeUSB™ products.
Icron Systems, Inc. of Vancouver, B.C. has invented ExtremeUSB technology, a practical means of extending the range of USB connections from 5 meters to over 100 meters. Icron has applied for patents covering its inventions and is integrating its technology into a series of products for computing applications. Icron’s Ranger products are the only USB extenders that are compliant with the USB Implementers Forum’s requirements. Icron is committed to working with its partners to increase the total market for USB products by enabling a broad set of new applications that utilize ExtremeUSB. Icron is a publicly traded company and trades under the symbol ICM on the Canadian Venture Exchange.
Investor Relations: Samantha Haynes [email protected] (604) 940-2239
Media Relations: David Smith [email protected] (604) 638-3925
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