IDAHO FALLS, Idaho, Dec. 18, 2003 (PRIMEZONE) -- Intrepid Technology and Resources, Inc. (ITR) a renewable energy company (OTCBB:IESV) announced that their board of directors has approved the appointment of Brad Frazee to the newly created position of Vice President of the Bio fuels division at their quarterly board meeting held December 12, 2003. Mr. Frazee holds a B.S. degree in Chemical Engineering from Montana State University and brings 20 years of project and operations experience to the position. Mr. Frazee has been instrumental in bringing major chemical and nuclear systems through construction and into production. His previous management and operational positions with Westinghouse, Lockheed Martin, and Bechtel, combined with this chemical engineering expertise complement ITR's biogas, bio-diesel and ethanol operations. Dr. Dennis Keiser in making the announcement remarked about the talent and dedication Mr. Frazee has demonstrated towards ITR and it's shareholders. Mr. Frazee's appointment highlights ITR's commitment to the "Green Technology" of biogas, bio-diesel and ethanol production.
Shareholders at the annual meeting, held concurrent to the Board of Directors meeting, overwhelmingly approved the issuance of the companies planned "Senior Convertible Preferred Stock." Sales of this security will be directly used to fund the increasingly broad array of biogas projects that are becoming available to the company.
About Intrepid Technology: We are a premier technology application innovator of Biogas, bio-diesel and Ethanol products and services designed to assist in worldwide energy independence and reduce pollution (Green Energy). All of these are from renewable agriculture feedstock and industrial and agriculture waste materials.
Certain statements contained herein constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby. While the Company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein. Further, the Company assumes no obligation to update or otherwise publicly revise the forward-looking information disclosed herein to reflect circumstances existing after the date hereof.