Cryopak Industries Inc.: First Costco U.S. Order Received-Exceeds $1 Million.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--May 23, 2002 Cryopak Industries Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CYPKF) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension Venture:CII CII Confederation of Indian Industry CII Chartered Insurance Institute (UK) CII Construction Industry Institute (University of Texas) CII Council of Institutional Investors ) is pleased to announce that it has received initial opening retail orders in excess of $1 million CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. from Costco U.S. for immediate distribution. Costco will sell Cryopak's Flexible Ice(TM) Blanket-'Club Pak' in all of its U.S. locations. The 'Club Pak', with four 12" x 16.75" sheets of Cryopak per box, is the largest configuration in the Company's retail line. This chainwide order follows a successful 10-store test in random Costco stores earlier this spring. John Morgan, President and 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. of Cryopak said, "We are very pleased about the results of our market-test with Costco and the size of this initial order from them. This signifies the potential available to Cryopak in the retail marketplace." Costco Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :COST) based in Issaquah, Washington, is a membership warehouse company, operating more than 280 stores in 36 states and additional stores in eight foreign countries, mainly under the "Costco Wholesale" name. Costco's warehouses present one of the largest and most exclusive product category selections to be found under a single roof. Categories include groceries, candy, appliances, television and media, automotive supplies, tires, toys, hardware, sporting goods, jewelry, watches, cameras, books, housewares, apparel, health and beauty aids, tobacco, furniture, office supplies and office equipment. For more information, please view their website at www.costco.com. Cryopak Industries Inc. develops, manufactures and markets quality temperature-controlling products such as the premium patented Cryopak Flexible Ice(TM) Blanket, flexible hot and cold compresses, gel packs, and instant hot and cold packs. The products are used during transport to ensure critical temperature maintenance for pharmaceuticals, blood, airline food and beverages, seafood and all other perishable items. The Company's products are also used for first aid, medical and physiotherapy treatments, and, through retail distribution, for daily all-purpose chilling applications. With almost 10 years of experience in research and development, Cryopak also offers expert testing and consulting services to help companies optimize their cold-chain management programs. For more information about Cryopak Industries Inc. or its products, visit the Company's website at www.cryopak.com. Cryopak Industries Inc. trades on both the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. and on the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. (OTCBB: CYPKF) and (TSX Venture: CII). The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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