SOURCE: Fox Petroleum, Inc.

September 29, 2010 13:18 ET

Fox Petroleum Signs Share Exchange Agreement With Green Energy Recycler

NEW YORK, NY--(Marketwire - September 29, 2010) -  Fox Petroleum, Inc. (PINKSHEETS: FXPT) announced today that it has signed a Share Exchange agreement with Resource Polymers of Hamilton, Ontario, Canada.

Resource Polymers Inc is involved in the processing and facilitating of plastic scrap compounds and has been recycling in various capacities for close to twenty-five years. With a focus on its proprietary wash line, Resource Polymers handles different waste streams including polyethylene terephthalate (PET water bottles), Agricultural scrap (polystyrene), low and high density polyethylene and other assorted plastic compounds. The company has a proprietary grinding and extrusion line and currently processes close to 250,000 pounds per month with expansion plans to move up very quickly to two million pounds per month.

"Our services are helping businesses divert trash from the landfills and we are well ingrained in the secondary scrap plastic markets," said William Lieberman, President of Fox Petroleum, Inc. "The plastics recyclers have seen a lot of changes in recent years with the explosion of the Chinese markets and the streams of plastic compound wastes have been steadily increasing coupled with a shortage in processing capacity," he added.

About Fox Petroleum, Inc. (PINKSHEETS: FXPTwww.foxpetro.net

Fox Petroleum, Inc. is focused on acquiring, developing and operating plastic recycling operations throughout North America, with a focus on plastic waste compounds and the aggregating of plastic scrap products for manufactures. Fox Petroleum's goal is to become an important partner for leading recycling companies who need proficient services.

Forward-Looking Statements
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such forward-looking statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission.

These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

Contact Information