Industrialex Manufacturing Corp.
TSX VENTURE : IXC.U

Industrialex Manufacturing Corp.

April 30, 2010 12:52 ET

Industrialex Manufacturing Corp. Announces Settlement Ending Legal Disputes With Robden Holdings Inc.

ARVADA, COLORADO--(Marketwire - April 30, 2010) - Industrialex Manufacturing Corp. (TSX VENTURE:IXC.U) today announced a settlement ending all legal disputes between the Company and Robden Holdings Corp. of Windsor, Ontario. The agreement was reached in December of 2009 and completed in April 2010. The Company paid CN$150,000 (approx. US$147,000) to Robden Holding Inc. Industrialex has taken a one-time charge of $147,000 in its 2009 financials.

In making the announcement, Mr. Paul Napoli, the Company's Chief Financial Officer, stated, "this settlement resolves all differences including the two lawsuits and removes any uncertainty and distraction of a prolonged and costly litigation."

Headquartered in Arvada, Colorado, Industrialex is a leading provider of industrial coating services to a broad range of manufacturers. The Company operates plants in Arvada and Colorado Springs, Colorado.

On behalf of the Board of Industrialex Manufacturing Corp.

Ahmad Akrami, Chief Executive Officer

The statements made in this press release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from Industrialex's expectations and projections.

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

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