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News Release


Amalgamation between ENVIRONMENTAL TECHNOLOGIES Inc. and I.C.T.C. HOLDINGS CORPORATION Completed
January 4, 2010

Vancouver, B.C. - Press Release

 
VANCOUVER, January 4, 2010 – I.C.T.C. Holdings Corporation (“ICTC”) announces that the previously announced amalgamation between Napier Environmental Technologies Inc. and I.C.T.C. was completed on December 31, 2009.
 
Pursuant to the amalgamation, all common shares of Napier Environmental Technologies Inc. were converted to Class G preference shares of I.C.T.C. Holdings Corporation on a one-for-one basis and immediately redeemed for cash in the amount of $0.01 per share. A Notice of Redemption has been sent to all registered shareholders. I.C.T.C. has provided notice to the British Columbia Securities Commission to voluntarily surrender its reporting issuer status and will apply to the Ontario Securities Commission for an order which will terminate such status as soon as practicable. The amalgamated company, I.C.T.C., is a privately-owned Canadian company which manufactures equipment and certain non-proprietary chemical products for the paint industry and has a licensing agreement for certain intellectual property with a major paint manufacturer for the North American market, which has a term through to February 28, 2019.
 
For further information, please contact:
Steve Balmer
President and COO
I.C.T.C. Holdings Corporation
604.522.6543
 
This release and referenced materials contain forward-looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in ICTC’s forward-looking statements. Such factors include, among others, the change in specifications of equipment or non-proprietary chemical products sold by ICTC to the paint industry, the major paint manufacturer discontinuing the sale of products containing certain IP and ICTC receiving no further royalty payments, the future need for capital and uncertainty of additional financing being available, the historical lack of dividend payments, dependence on key personnel, the influence of economic conditions, rate fluctuations and conflicts of interest. Although ICTC has attempted to identify important factors that could cause actual actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

 

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