Vancouver, British Columbia – January 26, 2023 – International Zeolite Corp. (“IZ”) (TSX.V:IZ) (OTCQB: IZCFF) (FSE: ZEON) announces that the strategic investment and debt exchange, previously announced November 22, 2022, has been withdrawn.
The investment was subject to the completion of due diligence, TSX-V approval and other terms customary for a transaction of this nature. The investor concluded that certain technical aspects required for the completion of the investment requires additional testing. These test results together with some regulatory approvals could not be achieved within the timeframe envisaged by the investor. Julian Treger, CoTec CEO commented, “We thank the IZ team for the opportunity to evaluate this transaction and we wish them all the best as they continue with the development of their product offering. We will be monitoring their progress.”
Ray Paquette IZ CEO stated, “We would like to thank the CoTec team for their time and interest in International Zeolite and for their $300,000 bridge loan to the Company. The IZ team will continue to move forward with the due diligence and regret that the timeline was not achievable.”
On Behalf of the Board of International Zeolite Corp.
About International Zeolite
International Zeolite’s mission is to produce a line of high-value top-tier performance natural zeolite products and solutions. We believe that real change comes from the ground up. Our focused aim is to utilize the naturally occurring zeolite mineral to innovate commercial agriculture, industry and consumer practices that outperform their competition, and are better for the environment and world populations. Our purpose-driven zeolite solutions represent a new era of earth conscious environmental science that will relentlessly seek to transform agriculture, industry, and households to safer, sustainable, superior means of operation.
International Zeolite is a publicly traded issuer listed on the TSX Venture Exchange and trades under the symbol IZ.V
For further information, please visit www.internationalzeolite.com or contact Ray Paquette – (604) 684.3301
For further information, please visit www.internationalzeolite.com.
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Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated work programs and the timing and amount of expenditures. International Zeolite does not assume the obligation to update any forward-looking statement. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.