--------------- PRESS RELEASE---------------
INTEGRAL TECHNOLOGIES, INC.
FOR IMMEDIATE RELEASE JUNE 20, 2005
QUANSTAR TO PROVIDE MANAGEMENT EXPERTISE TO INTEGRAL
BELLINGHAM, WA-INTEGRAL TECHNOLOGIES, INC. ("ITKG-OTC:BB") ("Integral"), has
contracted with The QuanStar Group, LLC. ("QuanStar"), a strategic business
management-support company, to provide tactical business counseling. QuanStar
will actively support Integral with and through the expected high growth
worldwide commercialization of its proprietary ElectriPlast technology.
ElectriPlast is a breakthrough technology. By blending plastic and metal in a
way no one dreamed possible, ElectriPlast combines the conductivity of metal
with the lightness and malleability of plastic.
The QuanStar Group is an active strategic management company that provides
assistance to companies who find themselves at a defining business juncture.
Their principals are recognized leaders in their fields and each brings decades
of success to bear on behalf of QuanStar's clients. Unlike typical management
consultants, QuanStar will act as an extension of Integral's senior management
team, with multilevel involvement in both strategy development and execution. In
this way, they can help Integral's executives reach the new level of performance
their situation demands.
"QuanStar offers a wealth of experience and expertise," said William Robinson,
CEO of Integral. "They have acquired, integrated, and built highly successful
companies, and will be assisting Integral in becoming a world leader in new
conductive material applications and wireless technologies. We believe this
development to be a major step forward in our journey to commercializing our
technologies."
The QuanStar Group, LLC
QuanStar, headquartered in New York, is a strategic, business management-support
company that provides multilevel offerings to high-growth companies. Its
services are provided through the personal and hands-on interaction of its
senior partners, associates, and affiliate executives.
While each business relationship is unique, QuanStar assists companies in
various capacities including: executive and board level business planning;
growth financing; establishment of critical strategic relationships; government
relations; creation of new divisions; mergers, acquisitions and joint ventures;
commercializing intellectual property; establishing global operations; licensing
agreements; and evaluating and making recommendations for significant business
changes in operations.
Commenting on QuanStar's engagement by Integral, Mark Sirangelo, Co-Founder and
CEO of Quanstar said, "We at QuanStar are extremely selective in the clients we
take on and are extremely excited about beginning our work with Integral. We
feel Integral's breakthrough ElectriPlast technology, coupled with the
entrepreneurial mindset of its founders and its advanced materials engineering
capacities has created a foundational product that will become a standard in a
number of significant industry sectors."
Among the QuanStar Group members are (alphabetically):
Arnold I. Burns - A former U.S. Deputy Attorney General, Burns is Co-Founder and
Chairman of QuanStar. For five years he served as Managing Director of an
international investment banking firm and, before that, as a Senior Partner of
an international law firm. He previously created and
managed his own law firm of more than a hundred lawyers specializing in growing
companies by providing legal and corporate counseling services.
James Cannavino - A former top executive of IBM Corporation for 32 years,
Cannavino helped contribute to billions of dollars of profit for the
organization and is noted as "father of the IBM ThinkPad." Along with his
multiple top-senior titles, he was a member of the IBM Corporate Executive
Committee and Worldwide Management Council. Following his IBM tenure, Cannavino
became President and CEO of Perot Systems Corporation where he was responsible
for all the day-to-day global operations of the company, as well as for strategy
and organization. Cannavino, today, in addition to his role at QuanStar is
Chairman and CEO of Direct Insite (DIRI).
Harold N. Chefitz - Chefitz has over 30 years experience in domestic and
international healthcare business operations and is a member of the Board of
Directors of Barr Laboratories, Kensey Nash, Elan Motor Technology,
EmergingMed.com and NetHealth Systems. He has served as a Managing Director at
both Prudential Securities and Furman Selz where he was responsible for public
financings, private placements and acquisition activities
Abraham E. "Barry" Cohen - A retired Senior Vice President of Merck & Company
International and President of the Merck's International Division, Cohen serves
as a Director on the supervisory boards of Akzo Corporation, an international
conglomerate, and other companies with global operations.
Dennis DeConcini - DeConcini, a former Senior Senator from Arizona, served as a
member of the U.S. Senate for 18 years. He has served on several committees
including the Subcommittees on Defense, Energy and Water Development and on
Foreign Operations. He chaired the Subcommittee on Patents, Copyrights and
Trademarks.
Dian Griesel - Is Founder and Chairman of The Investor Relations Group, a
financial relations and corporate communications company that specializes in
helping biotechnology, high technology/national defense companies and special
situations gain greater recognition with investors and liquidity in the
financial markets.
Andrew J. Kaslow - Kaslow was previously Senior Vice President, Human Resources,
of Vivendi Universal, a global media and entertainment company, and was the
global HR leader for Time Warner, the world's largest media company.
Additionally Kaslow served as the Chief HR Officer for Becton Dickinson, a
medical products and diagnostic company, and has held several senior management
positions at PepsiCo's KFC International business.
Per-Olof Loof - Loof was past President and CEO of Sensormatic Electronics
Corporation, a world leader in electronic security, where he successfully led
the organization through a difficult turnaround and managed the acquisition by
Tyco. Loof was also Senior Vice President of NCR's Financial Solutions Group, a
financial services company serving financial institutions in more than 100
countries. A native of Sweden, Loof has an extensive knowledge of the global
economy.
Mark N. Sirangelo - Sirangelo, the Co-Founder and CEO of The QuanStar Group, and
has extensive experience as one of the foremost developers of early-stage
companies, having actively participated in the development of over 20 such
companies in a variety of industries. He has also been a key figure in helping
to pioneer commercial technology transfer for university and government
laboratories. Prior to QuanStar Sirangelo, had 20 years of entrepreneurial
experience, growing and managing as founder and CEO several businesses and was
recognized by Inc., Ernst & Young and other organizations for his
accomplishments.
Allan R. Tessler - Tessler, a specialist in turnaround financing, was the
Founding Principal of Corporate Recovery Group, LLC, which provides counseling
to improve, reengineer, and restructure companies. He is also Chairman of the
Board and CEO of International Financial Group, an international merchant
banking firm.
David C. Watt - Currently Director and CEO of Biomagic, Inc., Watt has more than
30 years of legal and business experience. Prior positions include President of
ICN Biomedicals Inc. and President and CEO of Unitel, a publicly traded
telecommunications company.
Gary C. Wendt - After a long successful career as Chairman and CEO of GE Credit,
which produced forty percent of GE's revenues and income under his management,
Wendt was named Chairman and CEO of Conseco, with the intention of helping the
company reorganize and restructure its operations. Wendt recently founded two
companies, EXL and GW Capital. He has been and remains a director of several
publicly traded and private companies.
Integral Technologies
Integral Technologies, Inc. is the developer of an innovative electrically
conductive resin-based material deemed "ElectriPlast," a highly conductive
recipe that can be molded into virtually any shape or dimension associated with
the range of plastics, rubbers and other polymers. The company holds 3 US
patents, 54 utility patents pending with an additional 40 provisional patents
around its ElectriPlast technology. Various examples of industries where
ElectriPlast can be used are antennas, shielding, lighting, circuitry, switch
actuators, resistors, and medical devices, to name just a few. The company is
currently introducing these new products and ElectriPlast technology on a global
scale.
This press release contains "forward-looking statements'' within the meaning of
Section 27A of the 1933 Securities Act and Section 21E of the 1934 Securities
Exchange Act. Actual results could differ materially, as the result of such
factors as (1) competition in the markets for the products and services sold by
the company, (2) the ability of the company to execute its plans, and (3) other
factors detailed in the company's public filings with the SEC. By making these
forward-looking statements, the Company can give no assurances that the
transaction described in this press release will be successfully completed, and
undertakes no obligation to update these statements for revisions or changes
after the date of this release.
For more detailed information on the company and the technologies described
above please visit our web site at www.itkg.net or contact Shareholder Relations
---------------
at 888-666-8833 or The Investor Relations Group, at 212-825-3210. To review the
company's filings with the SEC, please go to www.sec.gov.