NAME CHANGE NEWS RELEASERADICAL ELASTOMERS INC. LAUNCHES NEW NAME AND LOGO;
RECEIVES NOTICE OF ALLOWANCE FOR PATENT OF ITS MANUFACTURING PROCESS
Radical Elastomers Inc. (formerly known as Botex Industries Corp.) announced today the official changeover to its new name, trademark and company logo. In addition, Radical Elastomers Inc. (the "Company") also announced the receipt of a Notice of Allowance from the United States Patent and Trademark Office concerning the Company's production process.
At the Company's Annual General meeting on June 27, 2001, by special resolution, the shareholders approved the name change of the Company to "Radical Elastomers Inc.". The Company's logo and proprietary product is now known as "RADICAL T.E.P.". The "T.E.P." more accurately reflects the uniqueness of the Company's products, which are made from thermoset elastomeric polymers. There were two main reasons for the Company name change. Firstly, there is a company in the United States suing for name infringement based on the similarity of the two companies' names. While Botex's legal counsel was defending this action, management believed that it was more prudent to change the Company name, get the lawsuit dropped and focus on production and sales and marketing issues rather than on this legal issue. The Company is now petitioning for this lawsuit to be dropped. Secondly, the Company is upgrading its production equipment and bringing in a number of sales and marketing, production and procedural changes to increase capacity and efficiency. Management therefore thought that with this new focus, it was appropriate to have a new image for the Company, and with that new image, a new name. The various legal and regulatory filings have now been completed and the Company has officially changed its name. The Company is now in the process of registering both its word and design marks in both Canada and the United States.
Effective August 3, 2001, shares of the Company will trade on the Canadian Venture Exchange under the symbol "RAD". The Company's website can now be found at https://www.radicaltep.com and https://www.radicalelastomers.com
The Company is now in receipt of a Notice of Allowance from the United States Patent and Trademark Office concerning the patent application for its process method for seamless construction of molded elastomer products. Normally, the next step in this patent application process is for the patent to be issued within three to four months of filing of the required fee. This fee was filed as at the end of July 2001.
RADICAL T.E.P. is a proprietary material formed from a patent-pending process used to create unique elastomeric products. RADICAL products offer exceptionally high, combined abrasion and flexural strengths, as RADICAL T.E.P. provides the elasticity of rubber with the superior abrasion and anti-weathering characteristics of plastic. Radical Elastomers builds single or multi-colored products of single or multiple durometers. All colors and densities are chemically bonded in a single mold production process. This results in a finished product, which is both technically and cosmetically superior to many rubber and urethane products. The RADICAL T.E.P. material is anti-bacterial, antifungal, and U.V. stable. The Company currently manufactures products for the shoe industry, athletics and sporting goods markets, as well as for industrial applications.