Paychest Inc (PYCT)

[poopscooper]

Tuesday, January 12 1999
You are viewing page 1

VANCOUVER, B.C.--(BUSINESS WIRE)--Jan. 12, 1999-- Napier International Technologies Inc. (NIR.TSE) is pleased to report that it has acquired a controlling interest in Consolidated Ecoprogress Technologies Inc. (CES-V). The acquisition has been initiated through the purchase by private placement

VANCOUVER, B.C.--(BUSINESS WIRE)--Jan. 12, 1999-- Napier International Technologies Inc. (NIR.TSE) is pleased to report that it has acquired a controlling interest in Consolidated Ecoprogress Technologies Inc. (CES-V). The acquisition has been initiated
Click here to find out more!
through the purchase by private placement of 2,376,471 common shares at an average cost of $0.295 per share and 1,776,471 share purchase warrants exercisable at an average price of $0.31 per share. In addition Napier has secured the first right of refusal to participate in up to 80% of any funding requirements by Ecoprogress for the next two years.

As a result of the private placement, Napier owns 38% of the issued and outstanding shares of Ecoprogress or 41% on a fully diluted basis. Napier nominees will hold two of five directorships on the board of Ecoprogress.

Ecoprogress has acquired exclusive licensing rights in Canada and is negotiating to acquire additional distribution rights for a technology involving the manufacturing of a water soluble and biodegradable plastic-like film known as "B-9(TM)". The B-9(TM) film is a composite material which is impervious to water on one side like plastic yet it is completely soluble and biodegradable when contacted by large volumes of water on the other side.

These unique properties are a major technological breakthrough which can solve some of the most concerning environmental problems of today. Ecoprogress and its licensor have used the B-9(tm) film to develop certain products for the following broad target markets:

1) Disposable Absorbent Products -- Diapers for infants. -- Feminine hygiene products, - Maxi-pads, panty-liners, etc. -- Diaper shields and underpads for incontinence. -- Wound care dressings. -- Disposable garments used in hospitals and dental offices.

The technology can also be adapted through the use of certain resins which lend themselves to injection moulding or thermo-forming processes to produce bottles, containers, or trays that maintain their integrity in contact with cold water but will completely dissolve if submerged in hot water. The unique property of B-9(tm) is used to advantage the following sector:

2) Disposable Container Products -- Containment pouches for urine and fecal matter by persons

suffering incontinence during surgery or by the disabled. -- Pill bottles, syringes and similar container products. -- Packaging for cosmetic preparation. -- Replacement for virtually any plastic packaging.
1 2 3 4 5 Next Page
of 2,376,471 common shares at an average cost of $0.295 per share and 1,776,471 share purchase warrants exercisable at an average price of $0.31 per share. In addition Napier has secured the first right of refusal to participate in up to 80% of any funding requirements by Ecoprogress for the next two years.

As a result of the private placement, Napier owns 38% of the issued and outstanding shares of Ecoprogress or 41% on a fully diluted basis. Napier nominees will hold two of five directorships on the board of Ecoprogress.

Ecoprogress has acquired exclusive licensing rights in Canada and is negotiating to acquire additional distribution rights for a technology involving the manufacturing of a water soluble and biodegradable plastic-like film known as "B-9(TM)". The B-9(TM) film is a composite material which is impervious to water on one side like plastic yet it is completely soluble and biodegradable when contacted by large volumes of water on the other side.

These unique properties are a major technological breakthrough which can solve some of the most concerning environmental problems of today. Ecoprogress and its licensor have used the B-9(tm) film to develop certain products for the following broad target markets:

1) Disposable Absorbent Products -- Diapers for infants. -- Feminine hygiene products, - Maxi-pads, panty-liners, etc. -- Diaper shields and underpads for incontinence. -- Wound care dressings. -- Disposable garments used in hospitals and dental offices.

The technology can also be adapted through the use of certain resins which lend themselves to injection moulding or thermo-forming processes to produce bottles, containers, or trays that maintain their integrity in contact with cold water but will completely dissolve if submerged in hot water. The unique property of B-9(tm) is used to advantage the following sector:

2) Disposable Container Products -- Containment pouches for urine and fecal matter by persons

suffering incontinence during surgery or by the disabled. -- Pill bottles, syringes and similar container products. -- Packaging for cosmetic preparation. -- Replacement for virtually any plastic packaging.

Napier's management believes the market potential for such products is so significant that it has taken an aggressive approach to securing significant exposure for its shareholders to this innovative technology.

The first product which has hit the retail stores with remarkable participation at the entry level is a broad line of feminine hygiene products. Marketed under the brand name "Simplicities(R)" Ecoprogress has developed the first fully flushable and biodegradable sanitary napkin. So successful is the design of the product that in 1996 it was awarded the highly acclaimed Environmental Choice Ecologo(M) Certification for the flushable and biodegradable sanitary napkin. In order to achieve this status, the product underwent rigorous testing to ensure compliance with licensing criteria.

This progressive solution for a global environmental challenge appears to be capturing attention from the retail distribution chains. Ecoprogress has recently achieved significant exposure in Western Canada with its Simplicities(R) brand and is pursuing arrangements with national and eastern Canadian distribution outlets; the following outlets have already commenced carrying the product:

British Columbia Alberta

Overwaitea Foods SAVE-ON-FOODS SAVE-ON-FOODS

IDA IGA

Value Drug Mart Caper's

Guardian Drugs Cooper's Foods Apple Drugs Quality Foods Community Drug Mart IDA Community Drug Mart Value Drug Mart

This feminine hygiene market area represents $240 million from Canadian consumers alone while the worldwide market has been estimated at $9 billion on an annual basis. An even larger targeted sector is for the production of a biodegradable diaper.

About 1.7 billion disposable diapers valued at $400 million are being contributed to Canada's solid waste management system per year. Although significant, this number pales in comparison to the 55 billion disposable diapers sold yearly around the world.

Accordingly, Ecoprogress is currently testing a range of diapers in all sizes that will disintegrate in processors in hospitals or can be removed for biodegradation in composts or landfill sites for everyday use.

Other interesting potential markets include, Canadian sales of adult incontinence pads in 1992 reached $18.5 million, and the value of annual sales of containment pouches in Canada exceeds $100 million.

Napier has also gained exposure for its own products to the marketing talents of Mike Daniels, Brian Besco and Mike Donald, marketing specialists and management team of Ecoprogress. The fact that Ecoprogress will remain an independently run and trading company will limit the distraction for both groups so that they can continue with their main areas of focus. Napier management will continue to vigorously pursue our entry into the 1/2 billion dollar coatings removal business where we have achieved such significant milestones through our environmentally friendly coatings lifter technology. There has been no material change to account for recent share price weakness from Napier's ongoing core business.

However, Napier's management firmly believes that by continuing to pursue technological solutions to global environmental challenges, management can build a diversified and leveraged opportunity for our shareholders.

Additional detailed information can be gained by calling either Jason Cubitt or Greg Thomas at Napier (604-801-6664) or Kevin Crawford at Ecoprogress (604-738-7011).

ON BEHALF OF THE BOARD OF DIRECTORS

NAPIER INTERNATIONAL TECHNOLOGIES INC.

THE TORONTO STOCK EXCHANGE NEITHER APPROVES NOR DISAPPROVES THE CONTENTS OF THIS NEWS RELEASE WHICH WAS PREPARED SOLELY AT THE DISCRETION OF MANAGEMENT.
1 2 3 4 5 Next Page arrow for pagination - right
In addition, make sure to read these articles:

* INDUSTRY NEWS.
ITW Acquires Rocol ITW Fluid Products Group, Inc., Glenview, IL, has acquired Rocol in Europe. With the exchange of emerging technology, the company is offering ......
* GRAPEVINE: News About People.
The Coca-Cola Company named the senior operating team. The new positions are as follows: A.R.C. "Sandy" Allan, currently president and chief operating officer, Asia Group, ......
* The top ten global paper companies: mergers acquisitions, and divestitures continue to...
1. International Paper Co. www.internationalpaper.com 400 Atlantic Street Stamford, Connecticut, 06921 [phone] John & Dillon, Chairman and CEO 2001 Pulp/Paper/Converted product sales: ......
* Texas-based Company Targets Austin for Re-Launch of Innovative Feminine Hygiene Product.
Business Editors & Health/Medical Writers AUSTIN, Texas--(BUSINESS WIRE)--Feb. 7, 2003 Instead, Inc., maker of over-the-counter women's reproductive health products, has selected Austin to launch a ......
* Solidified water soluble wood preservative and method of making the same.
A solidified water soluble wood preservative characterized by a solidified elongate body of a boron compound known as having beneficial effects as a wood preservative, ......
* Biopharmaceutics completes acquisition of Feminine Hygiene Product Lines.
BELLPORT, N.Y.--(BUSINESS WIRE)--March 18, 1996--Biopharmaceutics, Inc. (BIOP:OTCBB) announced today that it has completed its acquisition of the feminine hygiene product lines, Koromex(R), Vaginex(R) and Feminique(R), ......
* Feminine Hygiene Innovation Addresses the Environment.
ONTARIO, Canada -- While not every woman can afford to purchase a hybrid car, more women than ever are aware that their monthly feminine ......
* Ecoprogress Receives CDN $723,000.
VANCOUVER, British Columbia -- Consolidated Ecoprogress Technology Inc. (TSX VENTURE:CES) is pleased to report that the company has raised $483,000 through the exercise of ......
* Water-soluble gums.
Methocel food gums are a family of water-soluble gums made from natural cellulose, the most abundant, renewable carbohydrate found in nature. They are inert, high-purity ......
* Consolidated Ecoprogress Technology Inc.: Dr. Fresh Orders New Flushaway for Wal-Mart.
VANCOUVER, British Columbia -- Consolidated Ecoprogress Technology Inc. (TSX VENTURE:CES) is pleased to announce a re-order from Dr. Fresh for the latest version of ......
* Ecoprogress Orders Test Roll of New Flushable Film.
VANCOUVER, British Columbia -- Consolidated Ecoprogress Technology Inc. (TSX VENTURE:CES) is pleased to announce that it has placed an order for a new flushable ......
* CES Secures Chinese Manufacturing and Distribution Agreements for Flushaway Expansion.
VANCOUVER, British Columbia -- Consolidated Ecoprogress Technology Inc. (TSX VENTURE:CES) ("CES") is pleased to announce the signing of two agreements, each for a minimum of ......
* Water-soluble antioxidant from Rosemary.
Vitiva introduces AquaROX, a water-soluble antioxidant rosmarinic acid with a concentration up to 70 percent for the health-oriented food processing markets. The product is completely ......
* Consolidated Ecoprogress Technology Inc.: Lancaster Intelligencer Article on Flushaway.
VANCOUVER, British Columbia -- Consolidated Ecoprogress Technology Inc. (TSX VENTURE:CES) is pleased to report that the Company's Flushaway brand of feminine hygiene products have ......

Company: Napier International Technologies Inc.
Location: Canada
T T T
art_print_gray Print art_email Email 16x16-digg-guy Digg It delicious-small del.icio.us
content_arrtrans_open
content_arrtrans_close
Related Resources
icon - related articles
Related Articles

* BioMerieux acquires microbiological standards provider.
March l'Etoile, France 9/11/07--BioMerieux has acquired BTF, a supplier of reference standards for microbiological testing and water control solutions. Financial details of the transaction ......
* Making Change
Expansions: Atlanta-based Georgia-Pacific Corp. completes the acquisition April 13 of Inland Paperboard and Packaging, Inc., assets in Ontario, CA, and Harrington, DE. The two facilities, ......
* Deal Could Expand J&J Roster
Johnson & Johnson's pending $16.6 billion purchase of Pfizer Consumer Healthcare, the former Warner Lambert, may add two agencies to an already crowded J&J roster: ......

Ads By Google
Tuesday, January 12 1999
This feminine hygiene market area represents $240 million from Canadian consumers alone while the worldwide market has been estimated at $9 billion on an annual basis. An even larger targeted sector is for the production of a biodegradable diaper.

About 1.7 billion disposable diapers valued at $400 million are being contributed to Canada's solid waste management system per year. Although significant, this number pales in comparison to the 55 billion disposable diapers sold yearly around the world.

Accordingly, Ecoprogress is currently testing a range of diapers in all sizes that will disintegrate in processors in hospitals or can be removed for biodegradation in composts or landfill sites for everyday use.

Other interesting potential markets include, Canadian sales of adult incontinence pads in 1992 reached $18.5 million, and the value of annual sales of containment pouches in Canada exceeds $100 million.






http://www.allbusiness.com/banking-finance/financial-markets-investing-securities/6663966-1.html