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IPICO ANNOUNCES CLOSING OF PRIVATE PLACEMENT

^{Published on 2010-09-30 14:35:26 - Market Wire}
 

BURLINGTON, ON, Sept. 30 /CNW/ - IPICO Inc. (TSX-V:RFD) announced today the closing of the non-brokered private placement on the terms described in its news release of June 30, 2010 for gross proceeds of $1,655,000. The proceeds from this placement include the $1,000,000 interim bridge loan announced in IPICO's news releases of June 30 and August 5, 2010, and are available for general corporate purposes. All of the securities issued in connection with the placement are restricted from resale for a period of four months and one day from their date of issue.

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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