Monday, June 21, 2004
International Barrier's Purchase of Fire Resistant Technology Generates Global Licensing Inquiries in Asia, Mexico, Ireland, Great Britain, Saudi Arabia, and India
Watkins, MN, Vancouver, BC, June 21, 2004 - International Barrier Technology, Inc. ("Barrier") (IBTGF: OTCBB; IBH: TSXV), a manufacturer and marketer of fire resistant building materials, has begun preliminary discussions concerning sales and Pyrotite™ license opportunities with parties representing interests in Japan, China, Mexico, Ireland, Great Britain, Saudi Arabia, and India. With the completion of the acquisition of the Pyrotite fire retardant technology, Pyrotite trademark, US and international patents, and know-how on June 2, 2004, interest and inquiries regarding licensing have grown significantly.
"Anywhere that people build structures, fire is a concern. Where fire is a concern, Blazeguard® and the Pyrotite technology can enhance safety and security. Our growth strategy focuses on licensing our technology to capable partners, and the surge in inquiries confirms that our expectations of significant global license opportunities and foreign product sales are well-founded," said Mike Huddy, Barrier's president. "Interested parties are coming to us with great enthusiasm to pursue these markets. These prospective licensees are capable of undertaking manufacturing and marketing as well as protecting the technology in their respective countries. Barrier is excited about the prospect of establishing partnerships with individuals and companies globally, and focusing on a primary role of technology transfer and creating a business environment in which all parties involved become winners. Over the next months, Barrier will develop priorities and guidelines to take the licensing process through to completion and the eventual sale of license rights to qualified companies."
About International Barrier Technology Inc.
International Barrier Technology, Inc. develops, manufactures, and markets proprietary fire resistant building materials. Its patented, non-combustible, non-toxic Pyrotite formulation has an extraordinary capability: it releases water when exposed to the heat of fire. Barrier's award-winning Blazeguard wood panels exceed International Building Code requirements in every targeted fire test and application, and uniquely combine properties that increase panel strength and minimize environmental and human impact. Blazeguard customers include Centex (CTX: NYSE), D.R. Horton (DHI: NYSE), KB Home (KBH: NYSE), and Lennar (LEN: NYSE). Lowe's Companies (LOW: NYSE), Stock Building Supply, and Mule-Hide Products Co., Inc. are Blazeguard distributors. Pyrotite has potential applications with engineered wood products, paint, plastics, and expanded polystyrene.
Barrier is part of the DJ Building Materials Index (US)
INTERNATIONAL BARRIER TECHNOLOGY INC.
Per: "MICHAEL HUDDY"
President & 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.
Forward-Looking Information: The statements in this news release contain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve certain risks, assumptions and uncertainties, including but not limited to the ability to generate and secure product sales. In each case actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or modified) will not be realized.
International Barrier Technology Inc.
Richard Angle, 866-735-3519
ECON Investor Relations, Inc.
Peter Kletas, 866-948-0848
Source: International Barrier Technology Inc.
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