Minaean Signs Letter of Intent for Construction of Super Structure for Condominium Project in Vancouver, British Columbia, Canada
Vancouver, British Columbia CANADA, June 10, 2008 /FSC/ - Minaean International Corp. (MIB - TSX Venture, NJA - FWB, NJA - BSE), the Canadian-based developer of alternative building technologies using light-gauge steel ("LGS"), is pleased to announce that its wholly owned subsidiary, Minaean Building Structures Inc. (MBSI), has signed a Letter of Intent with British Columbia property development giants Adera Properties of the Adera Group of Companies for the supply and installation of wall panels for its condominium project in Vancouver, British Columbia, Canada. The project, named "Pacific Spirit", calls for the construction of a four story "West Coast Modern Designed" residential condominium building consisting of 98 residential units above 121 stalls of underground parking. The project will have a total of 85,230 sq. ft. of built-up area and will be carried out using the Artisan Quik-Build System, a combination of Minaean's structural wall panels (pre-engineered and panelized in the factory) and Canam's "Hambro" flooring system.
The Adera Group of Companies has been one of British Columbia's most trusted home builders for 35 years. Its team consists of architects, designers, construction crews, sales representatives and customer service specialists. Adera has had tremendous success in 21 previous projects selling out every single unit and is currently involved in 6 more ventures in various stages.
The estimated start time for this project is September of 2008. Minaean has been advised to start the supply of walls and floor for the first level by the middle of December, 2008.
Minaean's US based subsidiary has completed three prestigious projects in the state of Oregon to date and is getting ready to supply wall panels for a 4th development. The contract for a 5th project, an 85,500 sq ft. 6 storey building to be constructed in Portland, Oregon, using the "Artisan Quik-Build" system is anticipated to be finalized shortly.
About Minaean
Minaean International Corporation ("MIC") is a Canadian company engaged in the development and promotion of innovative Quik-Build(tm) Light Gauge Steel (LGS) technologies for the construction of cost effective and environmentally friendly structures. Minaean Habitat (India) Pvt. Ltd., which is a wholly owned subsidiary of MIC, is a company well known for its pioneering efforts in manufacture of Light Gauge Steel components for the construction industry and modular metal buildings in India offering a wide range of applications and has two manufacturing facilities in Mumbai and Bangalore with a full fledged design and engineering team comprising 140 employees. Minaean Power Structures is a wholly owned subsidiary which offers and constructs the external super structures using "ARTISAN Quik-Build" system for building projects up to 8 storey buildings in North America.
The strong, affordable, ecologically sustainable structures present a promising solution to the mass housing shortages in developing countries and disaster-stricken areas, in addition to a range of conventional applications. The company has developed for different systems, namely, Vesta Quik-BuildTM, Artisan Quik-BuildTM , Modular Quik-Build and recently launch Artisan Composite using the steel framing with cellulite concrete in-fill system. The shares of Minaean International Corporation (parent company) are publicly traded on the TSX Venture Exchange under the symbol "MIB" and on the Berlin and Frankfurt Stock Exchanges under the symbol "NJA". For more information, please visit www.minaean.com.
On behalf of the Board of Directors
MINAEAN INTERNATIONAL CORP.
" Mervyn Pinto "
Mervyn Pinto, President & Director
Source: Minaean International Corp. (MIB - TSX-V)
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