News Releases
July 10, 2003
International Barrier Technology Inc. Announces Private Placement
Vancouver, BC, July 10, 2003 - International Barrier Technology Inc. (the "Company") announces that, subject to regulatory acceptance, it has negotiated a non-brokered private placement in the amount of 1,000,000 shares of the Company at a price of $0.30 per share.
Proceeds from the private placement will be used for the Company's working capital and Barrier Technology Corporation, the Company's U.S. operating subsidiary.
The Company has agreed to pay a finder's fee to Haywood Securities Inc. in the amount of 10% payable by the issuance of 100,000 shares at a deemed price of $0.30 per share with respect to this private placement.
The Company also announces that, subject to regulatory acceptance, it has granted stock options under its stock option plan, to a director and consultants of the Company in the total amount of 300,000 common shares in the capital stock of the Company, at a price of $0.26 per share exercisable up to and including July 10, 2005.
INTERNATIONAL BARRIER TECHNOLOGY INC.
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David J. Corcoran
CFO, Director
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS PRESS RELEASE.
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