Post by
Flexy6 on Jun 30, 2005 1:34pm
Release Today
From: Stockwatch News
To: Stockwatch News
Sent: Thursday, June 30, 2005 9:24 AM
Subject: Stockwatch: International Bio Recovery Corp: Int'l Bio Recovery receives $500,000 plant payment
Int'l Bio Recovery receives $500,000 plant payment
International Bio Recovery Corp (TSX-V:IBR)
Shares Issued 27,459,852
Last Close 6/29/2005 $0.32
Thursday June 30 2005 - News Release
Mr. Ben Van Dyk reports
IBR ANNOUNCES RECEIPT OF SCHEDULED PAYMENT OF $500,000 UNDER TERMS OF TECHNOLOGY SALE TO IRAN
International Bio Recovery Corp. has received a scheduled payment of $500,000 as part of the terms of the sale of a master licence covering up to eight IBR plants in Iran.
This payment and the initial deposit of $400,000 received in May, 2005, are part of the $7-million fee payable for the two initial plants as previously announced. In addition plant licence fees, royalties and technology fees will be payable to IBR for each additional plant built under this master license agreement.
IBR's innovative approach to processing organic materials brings a new concept to organic fertilizer production. Applying biotechnology and fermentation engineering principles and providing the optimal environment for the growth of naturally occurring thermophilic bacteria, IBR is able to produce uniformly digested material that is free of pathogens and inorganic contaminants. The proven process allows for the production of customized products for a wide variety of agricultural applications.
© 2005 Canjex Publishing Ltd.