SOURCE: CLX Investment Company, Inc.

April 26, 2007 09:03 ET

CLX Investment Company Files Definitive Proxy Material Setting Date for Annual Meeting of Shareholders

BDC Withdrawal Among Proposals To Be Considered by Shareholders

TEMECULA, CA -- (MARKET WIRE) -- April 26, 2007 -- CLX Investment Company, Inc. (OTCBB: CLXN), a diversified investment fund, has filed definitive proxy solicitation material for an upcoming annual meeting of shareholders, which has been scheduled for May 30, 2007 at the company's corporate headquarters.

Included in the proposals to be considered at the annual meeting is an authorization for the Board of Directors to withdraw the company's election to be regulated as a business development company (BDC) pursuant to Section 54(c) under the Investment Company Act.

With the filing of the definitive proxy material, a mailing will be sent to shareholders of record as of April 27, 2007, the record date of the filing. The mailing is expected to begin on or about May 2, 2007.

In proposing the BDC withdraw, the Board of Directors has expressed its belief that given the company's current status and its future potential as an operating company, it would be in the best interests of CLX to withdraw BDC election at this time. Additional details regarding the implications of the BDC withdrawal can be found in the 14A definitive proxy material filed with the Securities and Exchange Commission.

The other proposals in the proxy material concern the election of the Board of Directors to annual terms, the ratification of the appointment of HJ Associates & Consultants, LLP as the company's independent public accountants for the fiscal year ending September 30, 2007, the ratification of the appointment of Parson Law Firm as the company's general counsel, and transacting such other business as may properly come before the meeting.

"We are pleased to have set the date for the annual meeting, so shareholders can consider the proposals in the proxy material, particularly the BDC withdrawal," stated Robert McCoy, chief executive officer of the company.

"We look forward to articulating this potential, including the possibility of initiating a strategic acquisition of an operating company to make the primary focus of the CLX's operations, in the near future. The Board has determined that this strategy would not be possible under the rather restrictive framework of the 1940 Act," added Mr. McCoy.

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About CLX Investment Company

CLX Investment Company ( holds a 31% equity interest in Zonda, Inc. ( CLX has also invested, and holds a common stock position, in ActionView International, Inc. (, a publicly traded global manufacturer and marketer of "smart" scrolling advertising billboards. CLX has elected to be regulated as a Business Development Company pursuant to Section 54 of the Investment Company Act of 1940, and is pursuing a business plan wherein the Company seeks to make investment in developing companies with the goal of providing return for its shareholders.

All statements included in this release, including statements regarding potential future plans and objectives of CLX Investments are forward- looking statements. Such statements are necessarily subject to risks and uncertainties, some of which are significant in scope and nature beyond CLX Investments' control. There can be no assurance that such statements will prove accurate. Actual results and future events could differ materially from those anticipated in such statements depending on many factors. Historical results are not necessarily indicative of future performance.

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