ZEOX Corporation

ZEOX Corporation

January 12, 2007 13:34 ET

ZEOX Corporation: Company Enters Letter of Intent to Acquire Ash Meadows, LLC

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 12, 2007) -

Not for distribution in the United States or through United States wire services.

Mr. LuVerne E.W. Hogg, President and CEO of ZEOX Corporation (TSX VENTURE:ZOX) is pleased to announce that it has entered a letter of intent ("LOI") with Badger Mining Corporation, a Wisconsin, USA Corporation ("BMC") to purchase Ash Meadows, LLC, a Wisconsin, USA limited liability company ("AM") and to enter into a series of agreements ("Agreement") related to the development, mining, processing, distribution and sale of zeolite resources and the lease and purchase of certain real property on which a processing facility is located on the Nevada and California border.

The parties have agreed to structure a merger whereby the Company's wholly owned subsidiary White Cliffs Mining, Inc. ("WCM") will be the survivor corporation in an merger with AM. In consideration of this transaction BMC will receive five million (5,000,000) common shares of ZEOX and a land purchase agreement.

Under the Agreement existing land comprising of a 9-acre plant site will be leased by WCM and ZEOX will be granted an option to purchase the 9-acre parcel of land for a term up to and including January 1, 2012 for a purchase price of US$135,000. During this term ZEOX agrees to pay a monthly rent of US$200.00 per acre until such time as the land is purchased. The agreement includes vehicular rights of way for the seller to all land locations on the overall property.

The Agreement is subject to due diligence including legal review & assessment, legal documentation, approval of the Board of Directors of ZEOX and BMC, approval by all third parties whose consent is required and the approval of the TSX Venture Exchange. The Agreement is expected to close on or before April 10th, 2007 at which time BMC will name a representative to serve on the Board of Directors of ZEOX.

For a more complete business and financial profile of the Company, management encourages interested parties to view the Company's documents posted on sedar.com.

On behalf of the Board of Directors

LuVerne E.W. Hogg, President & Chief Executive Officer

Legal Notice Regarding Forward Looking-Statements: This news release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are indicated expectations or intentions. Forward-looking statements in this news release include that ZEOX will acquire Ash Meadows including land, resources and plant. . Factors that could cause actual results to be materially different include that our due diligence does not show assets as initially thought, we may not be able to agree on final documents, or other conditions may not be fulfilled. Investors are cautioned against placing undue reliance on forward-looking statements.

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

Contact Information

  • ZEOX Corporation
    LuVerne E.W. Hogg
    President & Chief Executive Officer
    (250) 767-6788
    (250) 767-6134 (FAX)
    Email: vernehogg@shaw.ca