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9 October 2013
("Iofina" or the "Group")
(LSE AIM: IOF)
Iofina, specialists in the exploration and production of iodine and iodine specialty chemical derivatives, is pleased to report that construction of the IO#3 production plant is currently being finalized and commissioning procedures will begin next week. Full scale production at the plant is expected to begin shortly thereafter.
In addition, on September 30, 2013, Iofina received notification from the Montana Department of Natural Resources and Conservation that its application for a permit for beneficial water usage related to the Water Depot project was deemed complete and accurate. The application has now moved to the final determination phase, which can take up to 120 days. Upon final determination, the project enters a thirty day public notification phase.
Commenting on the progress, Mr. George Lantz, CEO said: "We are pleased that IO#3 is nearing completion and will contribute additional iodine production along with our existing plants. Progress on our Water Depot project is encouraging. Although this is a long-term non-core project, the news that we have progressed to the next step is positive."
For further information, please contact:
George Lantz, CEO
Tel: +44(0)20 3006 3135
Ben Colegrave/Chris Sim/ James Rudd
Tel: +44(0)20 7597 5970
Dominic Barretto/Anna Legge
Yellow Jersey PR Limited
Tel: +44(0) 7768 537 739
Iofina specializes in the exploration and production of iodine, iodine specialty chemical derivatives, produced water and natural gas. Iofina's business strategy is to identify, develop, build, own and operate iodine extraction plants currently focused in North America based on Iofina's WET® IOsorb™ technology. Iofina has iodine production operations in the United States, specifically in Texas, California, Montana, Oklahoma and Wyoming. The Group has complete vertical integration from the production of iodine in the field to the manufacture of the chemical end products derived from iodine to the consumer and the recycling of iodine using iodinated side-streams from waste chemical processes in Europe, North America and Asia. The Group utilizes its portfolio of patented and patent pending technology, proprietary methods and trademarks throughout all business lines.
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