IPICO announces completion of $1,000,000 private placement

BURLINGTON, ON, Aug. 5 /CNW/ - IPICO Inc. (TSX-V:RFD) announced today the closing of the second and final $500,000 tranche of secured convertible Series C debentures, without warrants, under the terms of the $1,000,000 interim bridge loan described in its news release of June 30, 2010. The first $500,000 tranche of this placement closed on June 30, 2010. The interim loan is subject to the final approval of the TSX Venture Exchange. All Series C debentures issued in connection with this placement are restricted from resale for a period of four months and one day from their date of issue.

This news release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities in any jurisdiction. The Debentures being offered have not been and will not be registered under the United States Securities Act of 1933 and state securities laws. Accordingly, the Debentures may not be offered or sold in the United States except pursuant to applicable exemptions from registration.

This news release contains certain forward-looking statements pertaining to IPICO's proposed private placement, including statements as to the anticipated time of closing. Any statements in this news release that are not statements of historical fact may be considered to be forward-looking statements. Written words such as "may", "will", "expect", "believe", "anticipate", "estimate", "intends", "goal", "objective", "seek", "attempt", or variations of these or similar words, identify forward-looking statements. These statements by their nature are estimates of future results only and involve substantial risks and uncertainties, including those detailed from time to time. Actual results could differ materially from those contained in the forward-looking statements and are based on current expectations that involve a number of risks and uncertainties, including, but not limited to, the inability to close the interim loan or the Offering as a result of the failure to settle and enter into definitive documentation or the failure to receive regulatory or other approvals on terms acceptable to IPICO and the subscribers. These and other risks may be detailed from time to time in IPICO's periodic reports filed on SEDAR ([ www.sedar.com ]).

ABOUT IPICO Inc. IPICO Inc. is an RFID solution supplier with operations in Canada, USA, South Africa, Europe, and Asia. IPICO produces smart labels, tags and readers based on the IP-X communication protocol. Its products are designed to conform to regulatory requirements in most major geographical regions, to excel at long read range, fast multi-read anti-collision and high thru-beam read-speeds of dynamic tag populations, and to allow for multi-reader rollout in close proximity. IPICO's products are used to optimize the management of products, equipment, people, animals and processes within the logistics and other value chains. For further information, go to [ www.ipico.com ].

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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IPICO announces completion of $1,000,000 private placement