News

07/30/2002
Press Release

Isonics Receives $2.5 Million Cash in Settlement of Eagle-Picher Arbitration Industry Leader to Conduct Conference Call Today
Tuesday July 30, 8:06 am Eastern Time Press Release SOURCE: Isonics Corporation GOLDEN, Colo.--(BUSINESS WIRE)--July 30, 2002--Isonics Corporation (Nasdaq:ISON - News), a world leader in isotopically engineered materials, announced that it has received $2.5 million in cash from Eagle-Picher in settlement of mutual claims which were the subject of a binding arbitration proceeding between the parties. The parties entered into the settlement agreement to avoid the costs and expenses of the arbitration. Neither Isonics nor Eagle-Picher acknowledged fault or liability in connection with the arbitration or with respect to any of the transactions that were the subject of the arbitration. James E. Alexander, Isonics Chairman & CEO commented, "The board of directors and Isonics' management believe that this settlement is in the best interest of Isonics' shareholders. The $2.5 million will provide funds for operations and modest investment in worthy projects without diluting existing shareholders. Management is energized by having this issue out of the way and is eager to move ahead expeditiously with our plans." Additionally, the Company has announced that they will hold a conference call today, July 30, 2002 at 4:00pm (Eastern). Among other topics, the Company will include a discussion on the Company's current finances and its future going forward. Scheduled to participate in the conference call, hosted by Investor Relations Services, Inc., are President of Isonics Corporation, Jim Alexander and Senior Vice President, Boris Rubizhevsky. To participate in the conference call, please call 888/428-4480, 10 minutes prior to the start of the call. -- Who: Isonics Corporation (Nasdaq:ISON - News) -- What: Conference Call -- When: July 30, 2002 at 4:00pm EST -- How: Call 888/428-4480 If you are unable to participate, an archived copy of the conference call may be obtained by conatacting Investor Relations Services, Inc. by telephone at 386/409-0200 or from their website at http://www.invrel.net About Isonics Corporation Isonics is a world leader in isotopically engineered materials and produces isotopically pure, high thermal conductivity silicon-28 chemicals and wafers for the semiconductor industry. Isonics also markets and sells stable isotopes for the health care industry such as carbon- 13 for diagnostic breath tests and drug design, and oxygen- 18 for positron emission tomography (PET) imaging. Stable isotopes can be thought of as ultra pure materials. This high degree of purification provides enhanced properties as compared to natural materials. Additional information may be obtained at http://www.isonics.com. Except for historical information contained herein, this document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. Further, the Company operates in industries where securities values may be volatile and may be influenced by regulatory and other factors beyond the Company's control. Other important factors that the Company believes might cause such differences are discussed in the risk factors detailed in the Company's 10-KSB for the year ended April 30, 2001, and its quarterly report on Form 10-QSB for the nine months ended January 31, 2002, both as filed with the Securities and Exchange Commission, which include the Company's cash flow difficulties, dependence on significant customers, and rapid development of technology, among other risks. In assessing forward-looking statements contained herein, readers are urged to carefully read all cautionary statements contained in the Company's filings with the Securities and Exchange Commission. Contact: Isonics Corporation, Golden James E. Alexander, 303/279-7900 or Investor Relations Services, Inc., New Smyrna Beach, FL Nicole Mongelli, 386/409-0200 ison@invrel.net