ICBS signs agreement for the formation of a joint venture company with Chinese

Dec 02, 2010, 10:32 ET from Inter Canadian Business Service

BOSTON and MONTREAL, Dec. 2 /PRNewswire-FirstCall/ - ICBS Ltd. (OTCPK: ICBT),  announced today that it has signed a letter of intent with Chinese partners, Dr. Paul Yip and W.Woo of New Boston Holding Group Inc.

The joint venture company will be instrumental in the development of BioSpec products throughout Asia. The new company will also be working to bring new technological products to China and Chinese made products to North America.

"This will open the door for ICBS to bring its expertise in acquiring interests in Chinese companies who wish to introduce products to the North American markets", said Dr. George Tsoukas, Chairman of ICBS. Targeted are opportunities in pharmaceuticals, transportation and environmental technology and products.

"We are in talks with our new partners regarding several exciting opportunities", said Garth McIntosh, President & CEO of ICBS " The Chinese have developed several extremely interesting technological advances in the area of water treatment and environmental systems that would be a perfect match for BioSpec Global Solutions".

New Boston Holding Group Inc., is an American company representing interests in China, with strong connections to the Chinese government.

ICBS specializes in mergers and acquisitions (M&A) advisory services and invests in selective businesses with potential for high growth.

Legal Notice Regarding Forward-Looking Statements:

Safe Harbour: This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbour created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of ICBS Limited, to be materially different from the statements made herein.

SOURCE Inter Canadian Business Service