AgriTec Systems Inc. Announces an Agreement With Institutional Investors Consulting Company
February 23 2009 - 2:57PM
Marketwired
AgriTec Systems Inc. (TSX VENTURE: AGR) ("AgriTec" or the
"Corporation") is pleased to announce that it has entered into an
agreement with Institutional Investors Consulting Company ("IICC")
and its subsidiary IICC-Tradeco, a registered securities
broker/dealer. IICC's CEO Leonard Chaikind founded IICC in 1991;
prior to that he served as Finance Director (CFO) for Shell Oil
Products and Shell Chemical Products, Fae East and Asian Treasurer
for Royal Dutch Shell and Administrator and Chief Investment
Manager for Shell's Pension and Benefit Plans.
The purpose of the agreement is to raise funds sufficient to
execute AgriTec's long term business plan in the form of equity,
project finance and/or debt capital as appropriate. In addition,
IICC will use its resources to help the Company in forming
alliances with strategic partners and in developing "clean-tech"
business opportunities throughout the world. The Company's wholly
owned subsidiary AgriTec, Inc. has been issued patents through out
the world for the conversion of bio-mass into value-added
commodities. The Company will be focused on commercializing its
"carbon neutral" precipitated silica technology in rice growing
countries around the world. The technology is a solution for the
growing disposal problem with rice hull and rice hull ash ("RHA"),
a by-product of rice milling. AgriTec's technology converts RHA
into highly pure precipitated silica which is used in a number of
industries that produces products, such as: rubber products (tires
and athletic shoes), polishing compounds for computer chips, paint
pigments and toothpaste.
On December 18, 2008 Mr. Greg R. Wellen was named President and
Chief Executive Officer of the Company. Mr. Wellen has been with
the Company for 21 years, first as President of AgriTec, Inc.
(AgriTec Systems Inc.'s wholly owned subsidiary) and then as
Vice-President of AgriTec Systems, Inc. Mr. Wellen is a 1987
graduate from the University of Texas at Austin and is a coinventor
of AgriTec's carbon patents.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: AgriTec Systems Inc. Greg R. Wellen President &
CEO (713) 681-1100 Email: gwellen@agritecsystems.com Institutional
Investors Consulting Company Mr. Leonard S. Chaikind President and
CEO (713) 824-0658 Email: ceoiicc@gmail.com
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