IC IC Capitalight Corp

Innovative Composites International Inc. (CSE:IC)(OTCQX:ICIZF) ("ICI", or the
"Company") is pleased to announce today that the company has been awarded
several significant purchase orders ("POs") that serve as continued validation
of the quality and unique value of our technology and capabilities. Two of the
POs are from global automotive tier one suppliers with annual revenue
anticipated to be in excess of $6.0 million. The third PO, which is to be
delivered over the next four months, is the first order of an amendment to an
existing contract that assures the Company of a minimum of 20 units per month
minimum volume for the next 8 months and is expected to continue for the next
three years. ICI and its customer will enter into discussions at the end of this
year for the balance of the contract. Based on the contract already awarded to
this customer, management of the Company expects volume to be higher than the 20
units per month confirmed by this PO with anticipated worth in excess of a
million dollars over the next four months. This contract is for our award-
winning industrial enclosure.


While our agreements prevent us from announcing the names of the end users and
of our customers, these POs are significant for us as a company, are further
validation of the uniqueness of our product, and the resolve, commitment and
expertise of our production team who, in collaboration with our customers teams,
have worked to develop unique differentiated solutions for the automotive
transportation and industrial enclosure industries.


"The nature and volume of the new business opportunities allows us to
systematically achieve efficiencies, and will allow us to plan production more
systematically. We are encouraged and excited about this contract and what it
represents to us as a business," said Mark Rivers, CEO and Vice Chair of ICI.


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.


Statements made in this press release include forward-looking statements that
involve a number of risks and uncertainties. These statements relate to future
events or future performance and reflect management's current expectations and
assumptions. A number of factors could cause actual events, performance or
results to differ materially from the events, performance and results discussed
in the forward-looking statements, such as the economy, generally, competition
in its target markets, and the demand for ICI's products from the PO customers.
These forward-looking statements are made as of the date hereof and ICI does not
assume any obligation to update or revise them to reflect new events or
circumstances. Actual events or results could differ materially from ICI's
expectations and projections.


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

Grafico Azioni IC Capitalight (CSE:IC)
Storico
Da Mag 2024 a Giu 2024

Grafico Azioni IC Capitalight (CSE:IC)
Storico
Da Giu 2023 a Giu 2024