IC International Corona Capital Corp

Innovative Composites International Inc. (CNSX:IC)(OTCQX:ICIZF) ("ICI", or the
"Company") is pleased to provide the following business update. The Board and
Management of ICI are committed to keeping investors up to date and aware of the
Company's progress. This initiative will be accomplished through various
avenues, including press releases announcing material events, the CNSX monthly
progress report which is posted on the ICI company page on the CNSX webpage and
by hosting investor calls concurrent with the release of quarterly financial
results 


Finance

The Company is pleased with the results of its debenture financing, pursuant to
which it issued an aggregate of $3,166,875 of debentures in two tranches, as
press released on September 5, 2013 and October 7, 2013. In addition the Company
has closed on its previously announced line of credit financing with mBank of
Michigan in the amount of $1.5 million as press released on November 8, 2013.
This line of credit is secured by a pledge of accounts receivable, inventory,
and cash. The support of the State of Michigan Collateral support program was
instrumental in ICI securing the line. Proceeds from the line will be used to
assist the Company in fulfilling its sales orders, and for general working
capital purposes. 


New Business

The Company has a diversified client base of 13 global customers across the
automotive, transportation and industrial market segments. Many of these clients
provide spot purchases through Purchase Orders (PO's) rather than fixed
long-term contracts. Some recent developments include:


HVAC 

In July 2013 the Company's product was recognized as "innovative design of the
year" at the 2013 dealer design awards for refrigeration. ICI continues to
conduct monthly business in this vertical and looks forward to growing this
opportunity. 


Industrial Applications / Acoustic Highway Fencing

Paragon Noise D-Fence(TM) has recently received product approval from the North
Carolina Department of Transportation. These panels are a unique and cost
effective highway noise reduction solution that can be installed between
traditional steel I-beams, concrete or glulam columns. ICI has worked with
Paragon Noise Barriers since March 2012, supplying its patented RMORskin product
to the outside panels of their highway fencing; however most recently ICI has
provided custom lamination services that are more efficient, faster and less
expensive than the previous solution. As a result Paragon was recently awarded a
Georgia Department of Transportation project - "The Henry County project", for
600,000 square feet of highway acoustic fencing. ICI is working to secure firm
purchase orders from Paragon on this project of which the Company has secured
the initial commitment. This significant PO, if fully awarded, is expected to be
serviced beginning in the latter portion of 2013 and continuing on into the
early months of 2014. 


Flexible Retail Environments 

Oasis International Inc. ("Oasis") is a recent new client acquisition. The
Executive Chairman and Founder of Oasis is also the CEO of ICI and Oasis is a
company founded and controlled by Mr. Rivers. The first project to market for
ICI and Oasis was recently completed providing further validation of the ICI
product application. ICI successfully delivered a unique, flexible retail space
to Oasis for the launch of the PlayStation 4 gaming console across three
locations, Montreal, Calgary and Scarborough. The Company provided to Oasis its
proprietary composite materials to be utilized in the creation of these flexible
retail environments. The Company is currently exploring how it may broaden its
relationship with Oasis in an attempt to bring higher value added products into
its production process. Oasis in conjunction with LS Travel Retail North America
(www.lstma.com) is actively involved in the building out and re-furbishing of
transportation hubs including 4,000 airport retail and premium branded mobile
pop up locations and 600 train stations globally. 


General 

The Company continues to allocate funds to support its on-going IP portfolio
ensuring that relevant patents and trademarks are up to date with regard to key
filings and submissions. 


The Company continues to monitor its direct labor and indirect labor at both
plant locations and recently gained approval from key suppliers and clients to
allow production to take place in either facility. This provides for greater
flexibility and utilization of its workforce. 


Comments from the CEO 

Company CEO Mark Rivers stated, "The Board and Management of ICI are excited and
encouraged by the combination of events summarized above The Company continues
to manage its cash flow and margins aggressively to ensure that it is able to
translate its sales progress into bottom line success.


"A further key initiative in the last month has been the development, approval
and implementation of a compensation program for ICI senior management, staff
and team. The plan is based on four key objectives: to retain, to engage, to
align and to preserve cash. The success of ICI depends very much on its talent
and the engagement and loyalty of a relatively small team and work force that we
need to be able to adapt and work with us as we build our momentum. This
compensation plan made significant use of our options to preserve cash and to
incentivize the team.


"ICI continues to make progress and is dedicated to getting the Company back on
a firm footing and to moving ahead in building a successful company after a very
tough period in its evolution. The dedicated and talented team, the ongoing
commitment of the board in time and money and our loyal shareholder base has
made this initial progress possible. There is a lot of work still ahead and we
will do our utmost to continue to keep all interested parties informed of
developments." 


About Innovative Composites International Inc.

Headquartered in Toronto, Canada, Innovative Composites International Inc. is a
high-tech engineering and manufacturing company whose goal is to utilize its
proprietary "green" composite materials and building systems to provide
innovative, engineered product solutions to markets that include automotive and
transportation, shelters and containers, construction and housing, and
industrial applications.


To find out more about ICI please visit our website at:
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. 


The CNSX has not reviewed and does not accept responsibility for the adequacy or
accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Innovative Composites International Inc.
Mark Rivers
Chief Executive Officer
+1 (647) 526 5899
mrivers@innovativecompositesinc.com
www.innovativecompositesinc.com.

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