KIRKLAND, Wash., Feb. 15, 2005 (PRIMEZONE) -- Universal Ice Blast, Inc. (Pink Sheets:UIBT) announced that, effective today, the Reverse Split approved by the Company, has now been cleared by the NASD.
The New symbol for the Company which is listed on the Pink Sheets is: UIBT
"The Company had spent quite some time determining what was in the best long-term interests of all shareholders. There were no clear and easy answers to the problems we faced; however, after careful consideration we concluded that the long-term justification of a reverse split was appropriate," said Rory Clarke, Chairman and CEO of Universal Ice Blast Inc. "The fundamentals of the Company are sound. We continue to rollout our Licensing strategy and have improved our manufacturing, marketing and sales coverage worldwide."
The Company confirmed that deliveries of the SX110 and SX45 for two German customers took place in February 2005. The SX110 ice generation unit is inserted into a production line by a Tier One Supplier for components for the Smart Car, which is a DiamlerChrysler Product.
The SX45 was delivered to a German research firm and is our first introduction of this new product as previously announced. The Company see this new addition to its product line as the first entry into a totally new market for the Company.
In February 2005 the Company entered into a Marketing and Sales agreement with an Australian firm covering for SE Asia and Australia. The Company had meetings in Singapore to establish the agreement as well as present the technology to clients in the petro-chemical industry.
In February 2005 the Company concluded a Letter of Intent with a Japanese company to be its exclusive manufacturing licensee for Japan and Thailand. This is an important step for the Company as it will co-develop new products aimed at the automotive and electronics market.
The conclusion of the Japanese agreement provides the Company with worldwide coverage for manufacturing, marketing and sales representation in all of its target markets: North America, Europe and Asia.
The Company will be posting an updated Letter From The Chairman on its website by Friday February 18th 2005.
Please visit the corporate website at www.iceblast.net.
About Universal Ice Blast, Inc.
Since 1995, Universal Ice Blast, Inc. has been the world's leader in crystalline ice blast products, and has researched and developed its patented environmentally friendly technology into viable products with worldwide applications. Market applications are: Precision Cleaning (automated production cleaning/de-burring); Industrial Cleaning (petro-chemical, pulp and paper, deconstruction cleaning); and Environmental Cleaning (lead paint, asbestos and nuclear decontamination). The Company conducts application-specific research with major clients and has patents issued and applied for on its technology in all its targeted geographic markets. Headquartered in Seattle, WA, the Company manufactures, markets and sells/rents its equipment directly or through licensees in North America, Europe, and Japan/Asia.