IDAHO FALLS, Idaho, June 4 /PRNewswire-FirstCall/ -- International
Isotopes Inc. (OTC Bulletin Board: INIS) is pleased to announce the completion
of an asset purchase agreement with Sequoyah Fuels Corporation (SFC) to
acquire certain intellectual property and equipment related to an idled
depleted uranium hexafluoride (DUF6) to depleted uranium tetrafluoride (DUF4)
deconversion facility.
Consideration for the assets has been paid in full. The equipment will be
disassembled and removed from the facility for re-construction at another
location yet to be determined by the Company, subject to approval of the
Nuclear Regulatory Commission. The SFC asset purchase agreement includes
equipment and engineering design, drawings, procedures, software, licensing
documents, and related know-how for construction and operation of a DUF6 to
DUF4 deconversion facility. INIS plans to incorporate best available
technology into this proven plant design and construct a new, state of the
art, environmentally-focused, plant that will have the dual purpose of
stabilizing DUF6 tails and providing DUF4 feed for the Company's Fluorine
Extraction Process (FEP).
Steve T. Laflin, President and Chief Executive Officer of INIS stated,
"This acquisition is a significant component of our overall strategic business
plan. Procurement of these assets will accelerate our implementation of this
plan by about one year and save our shareholders millions of dollars in
start-up expenses. We are pleased about this transaction because DUF4 is the
feedstock material for our patented FEP."
About International Isotopes Inc.
International Isotopes Inc. manufactures a full range of nuclear medicine
calibration and reference standards, high purity fluoride gases, and a variety
of cobalt-60 products such as teletherapy sources. The Company also provides
a wide selection of radioisotopes and radiochemicals for medical devices,
calibration, clinical research, life sciences, and industrial applications and
provides a host of analytical, measurement, recycling, and processing services
on a contract basis to clients.
International Isotopes Inc. Safe Harbor Statement
Forward-looking statements in this press release are made pursuant to the
safe harbor provision of the federal securities laws. Information contained
in forward-looking statements is based on current expectations and is subject
to change. Actual results may differ materially from the forward-looking
statements. Many factors could cause actual results to differ materially from
the forward-looking statements. Readers are directed to read the risk factors
detailed from time to time in our filings with the Securities and Exchange
Commission, including our annual report on Form 10-KSB for the year ending
December 31, 2006. The Company does not intend to publicly release any
revisions to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
For more information, visit our web site at www.intisoid.com
For More Information, Contact:
Steve Laflin, President and CEO
(208) 524-5300
SOURCE International Isotopes Inc.
