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.
David J. Corcoran
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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