Calcitech Ltd Announces Update on the Status of the Planned Commercial Production Plant.Business Editors HAMILTON, Bermuda--(BUSINESS WIRE)--July 21, 2003 CALCITECH LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension : CLK CLK Clock CLK Clerk CLK CDC2-Like Kinase CLK Corel RAVE (file extension) CLK Chep Lap Kok (Hong Kong airport) CLK Ceska Lekarska Komora (Chech) ; Freiverkehr: XCH XCH Exchange XCH Christmas Island (airport code) XCH Extended Channel ; OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: CLKTF) announces that it continues to progress with plans to construct the first commercial Synthetic Calcium Carbonate calcium carbonate, CaCO3, white chemical compound that is the most common nonsiliceous mineral. It occurs in two crystal forms: calcite, which is hexagonal, and aragonite, which is rhombohedral. "SCC SCC - strongly connected component " production plant in Germany. Detailed negotiations are underway with a number of banks and financial institutions to arrange the EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 17.2 million funding required for the construction of the plant. Contemporaneously, an environmental impact study is being conducted at the site in Leuna, Germany as well as the processing of an application for a building permit from the relevant authorities. We expect the result of the report by the end of July or in early August. This study is a part of the building permit process. As announced in the Company's press release dated 26th February 2003, the grant application for state subsidies has been filed with the Landesforderinstitut Sachsen Anhalt "LFI LFI Local File Inclusion LFI Link Fragmentation and Interleaving (Cisco) LFI Landesforstinventar (National Forest Inventory, Switzerland) LFI Lethal Force Institute LFI Last File Indicator " and this application continues to be processed. Also announced in a press release dated 13th May 2003, W.S. Atkins Ltd. of the United Kingdom have been contracted to complete the Technical Due Diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. Assessment and Subsequent Technical Audit. Atkins is in the process of completing their report and this should be available shortly. These reports have been commissioned in order to get an independent third party report on the Company's process and technology. On completion of the above matters the construction of the commercial plant is expected to begin. CalciTech announced in a press release dated 14th April 2003 the appointment of GUSCO as the sole European sales agents for paper products, following their introduction to the paper industry in Europe of CalciTech's first two products, CalciLS and CalciSG, launched with an announcement dated 10th February 2003. The Company is now pleased to announce that GUSCO have started to commit Letters of Intent with reputable paper companies for commitment of future production from the planned plant. About CalciTech CalciTech Ltd. has developed a unique process for the upcycling of industrial waste lime and flue gas carbon dioxide into white pigment grade Synthetic Calcium Carbonate (SCC). The production of this innovative product is based on a patented process developed in collaboration with several universities and research centres. The first plant will be located in Leuna, Germany. The proposed plant is expected to produce 40,000 tons of SCC per year. CalciTech intends to expand its worldwide technology-leadership in the production of environmentally friendly SCC. Given the high quality of the product, the Company foresees several application areas in different industrial markets, above all in the paper manufacturing market. The Company is based in Bermuda with administrative headquarters in Ferney Voltaire, France. CalciTech's shares are listed in Canada on the TSX (Symbol: CLK), in the United States on the OTC BB (Symbol; CLKTF) as well as on the Freiverkehr in Germany (Symbol;XCH). This press release contains forward-looking statements which are subject to a number of contingencies and uncertainties, including but not limited to, market acceptance for CalciTech products, manufacturing of CalciTech products in a commercial setting, obtaining adequate financing and construction management for products and obtaining appropriate permits. Such forward-looking statements are not guarantees of future performance, and are based on numerous assumptions about future conditions that could change. No Stock Exchange has reviewed or accepted responsibility for the adequacy or accuracy of this press release. |
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