iPackets International Inc. (IPKL)

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iPackets International Enters the Untapped Multi-Billion Dollar Chinese Mine-Safety Industry by Signing an Exclusive Agreement

Distribution Source : Market Wire


VANCOUVER, BC -- (Market Wire - NOV,7 2006) -- iPackets International, Inc. ("iPackets") (OTC: IPKL), a global developer and provider of a wide range of wireless and communications solutions for selected enterprises, announced that it has signed an exclusive distribution agreement for its iPMine mine-safety product for the People's Republic of China and Mongolia.

Under the terms of the agreement, a consortium of mainland Chinese businessmen have set-up a Beijing-based company that will operate under the name iPackets International (China) Inc. ("iPackets-China") and will be exclusively responsible for selling, marketing, and deploying the iPMine product. The agreement provides iPackets with a multi-million dollar revenue commitment over a 3-year period.
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"This agreement represents an important milestone to broaden and accelerate our customer and revenue acquisition strategy," said Naiel Kanno, president and & CEO of iPackets. "We are delighted that iPackets-China selected us and our mine-safety wireless product offering after an exhaustive research." iPackets and iPackets-China are well positioned to capture a substantial market share of this untapped multi-billion dollar industry in China over the next 36 months.