Advanced Remediation Technology Acquired by ThermaFreeze.Business Editors MOBILE, Ala.--(BUSINESS WIRE)--Feb. 12, 2001 ThermaFreeze (TM) Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: THFZ) announced today that it has acquired an advanced soil stabilization and solidification technology developed under the name IESCRETE (TM) for 500,000 one year restricted common shares of the Company. IESCRETE is a proprietary system for treating, stabilizing and encapsulating a variety of soils contaminated contaminated, v 1. made radioactive by the addition of small quantities of radioactive material. 2. made contaminated by adding infective or radiographic materials. 3. an infective surface or object. by organic and inorganic toxins. The stabilized end product may be safely left in place or reused in semi-structural ways (such as for road base). Applications for IESCRETE are extensive, with particular opportunities in the oil and mining industries. IESCRETE has been under development for more than two years and is now ready for commercial applications. ThermaFreeze (TM) Inc. anticipates that recent EPA/DOE sponsored test results will position IESCRETE as a significant cost effective method to treat and recycle contaminated soils and mine tailings Tailings (also known as tailings pile, tails, leach residue, or slickens[1]) are the materials left over[2] after the process of separating the valuable fraction from the worthless fraction of an ore. . "Acquisitions of 'ready-to-launch' environmental technologies such as IESCRETE are a key element to our roll up strategy. We intend to pursue the acquisition of sophisticated operators who are capable of exploiting these proprietary sciences with their existing field operations and have established relationships with major customers. Synergistic endeavors will not only bring more high quality companies to us, they will also help drive impressive internal growth. We are delighted that the developers of IESCRETE agreed with our approach and felt comfortable with their prospects for a long term return on investment with ThermaFreeze (TM) Inc.," states Joseph C. Murray, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . ThermaFreeze (TM) Inc. is an innovative, research-based firm solving thermal transfer See thermal wax transfer printer and direct thermal printer. problems for a wide range of industrial applications. Its new strategy is expected to quickly expand operations into various aspects of environmental solutions to meet the growing needs of the country. Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. in this release are made pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that such forward-looking statements involve risk and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the company, new products and technological changes, the Company's dependence on third party suppliers, intellectual property rights, and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission. This release conforms with the Securities and Exchange Commission Fair Disclosure Regulation, effective, October 2000. |
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