ICI and Universal Storage Containers Sign an LOI for the Supply of FRT Panels for Construction of State-Of-The-Art Composite Con

Innovative Composites International Inc. (TSX VENTURE:IC)("ICI" the "Company"),
is pleased to announce that it has signed a Letter of Intent ("LOI") with
Universal Storage Containers, LLC ("USC") a privately held US company, whereby
USC will use ICI's Fiber Reinforced Thermoplastic ("FRT") panels and other
composite parts in a newly designed portable container which will be exclusively
marketed by USC. Key elements of the Agreement are as follows:




- USC and ICI have jointly developed a state-of-the-art portable container
  for storage, moving and other related industries. These containers will
  incorporate the innovative FRT panels and other composite materials.
  USC will market this product line under the Z2-Box(TM) name;

- This Z2-Box(TM) is designed as a green and environmentally friendly
  product made of 100% recyclable materials;

- ICI to supply projected annual quantities approximating $8 million based
  on market demand and successful ramp up phase; and

- ICI to grant USC exclusive rights for the application of its FRT panels
  for all markets that USC serves.



"We are very impressed with ICI's superb engineering capabilities." said Peter
Nemiroff, President of USC, "The FRT technology is highly compatible with our
suite of products and we look forward to working with Terry Ball and his team in
pioneering the next generation of USC container solutions, which we feel will
revolutionize the marketplace. USC values ICI's FRT panels and composites as
offering unique material and design characteristics which translate into
innovative market advantages for our customers."


Over the last six months, USC has conducted extensive market research into what
should be the next generation of containers for various industries and concluded
that lightweight, environmentally friendly materials is what is needed in the
future.


"We are very pleased to have completed this LOI with such an accomplished and
respected company as USC. Their forward looking approach to the market fits well
with ICI's corporate culture, and we look forward to the rollout of the USC
Z2-Box(TM) utilizing FRT panels and other composites," commented Terry Ball,
ICI's Chief Executive Officer. "This strategic relationship represents another
successful milestone in the execution of ICI's business strategy of partnering
with established players in our target markets."


About Universal Storage Containers, LLC.

USC, (www.universalstoragecontainers.com) a privately held US company
headquartered in New Canaan, Connecticut, is a worldwide leader in Portable
Container Solutions, with offices in New York, Beijing, Denver and Atlanta. USC
offers a number of innovative foldable storage container solutions to various
industries, which provide cost savings that allow their customers to gain a
competitive edge in their industries.


About Innovative Composites International Inc.

Headquartered in Toronto, Canada, ICI is a high-tech engineering and
manufacturing company established in 2007 by a group of entrepreneurs with a
successful track record in commercializing advanced materials.


The Company is currently focused in two areas: Fibre Reinforced Thermoplastic
panels, a unique line of application-ready structural composite panels and Hero
451, an environmentally friendly fire inhibitor and suppressant. ICI's goal is
to deliver products that exceed industry standards with greater durability,
strength, flexibility and safety.


ICI is partnering directly with leaders in its target industries as it considers
it to be the fastest way to bring products to market. ICI's customized solutions
are intended to provide partners with competitive advantages over their
competitors.


To find out more about Innovative Composites International Inc. (TSX
VENTURE:IC), please visit our website at http://www.innovativecompositesinc.com


"Statements made in this press release include forward-looking statements that
involve a number of risks and uncertainties. These statements relate to future
events or future performance and reflect management's current expectations and
assumptions. A number of factors could cause actual events, performance or
results to differ materially from the events, performance and results discussed
in the forward-looking statements, such as the economy, generally, competition
in its target markets, the demand for ICI's products and the availability of
funding. These forward-looking statements are made as of the date hereof and ICI
does not assume any obligation to update or revise them to reflect new events or
circumstances. Actual events or results could differ materially from ICI's
expectations and projections."

Fortsum Business Solutions I (TSXV:FRT)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024