IC IC Capitalight Corp

Innovative Composites International Inc. (CSE:IC)(OTCQX:ICIZF) ("ICI", or the
"Company") is pleased to announce that it has closed an additional tranche, of a
series of convertible debenture offerings, in the aggregate principal amount of
$60,000 (the "Offering"). 


The convertible debentures (the "Debentures") have a two year maturity, bear
interest at a rate of 16% per annum and are convertible into common shares of
the Company at a conversion price equal to $0.01. Three $20,000 Debentures
comprising the Offering were issued on April 28, 2014, April 30, 2014, and May
1, 2014, respectively. 


Debenture holders have been provided with a subordinated first claim over all of
the assets of the Company, ranked after security held by senior
debentureholders. The Company has the right to prepay the Debentures upon
payment of an additional three month's interest, although Debenture holders will
have the right to convert should the Company seek to exercise its prepayment
rights. Subscribers to the Offering received 1,600 share purchase warrants for
every $1,000 of principal subscribed for, each such warrant entitling the holder
to purchase one additional common share for a period of two years from the date
of issuance at an exercise price of $0.05 per share. A total of 96,000 warrants
were issued in connection with the closing of the Offering. 


An insider of the Company purchased $20,000 of the Offering. The Offering is
considered to be a related party transaction as defined under Multilateral
Instrument 61-101 ("MI 61-101"). The Offering is exempt from the formal
valuation and minority shareholder approval requirements of MI 61-101 as neither
the fair market value of securities being issued to insiders nor the
consideration being paid by the insider will exceed 25% of the Company's market
capitalization. The Company did not file a material change report 21 days prior
to the closing of the Offering as details of participation of the insiders had
not been established at that time. 


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 automotive and
transportation, shelters and containers, construction and housing, and
industrial applications. 


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


The CSE has not reviewed and does not accept responsibility for the adequacy or
accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Innovative Composites International Inc.
Mark Rivers
Chief Executive Officer
(416) 646 0754
mrivers@innovativecompositesinc.com

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