Newlook Industries Corp.
CNSX : NLI

Newlook Industries Corp.

February 02, 2012 11:24 ET

Newlook Announces Acquisition

TORONTO, ONTARIO--(Marketwire - Feb. 2, 2012) - Newlook Industries Corp. ("Newlook" or the "Company") (CNSX:NLI) announced today the acquisition of 100% of all classes of all shares in VRT Environmental Consultants Inc., a Toronto based Company which specializes in the shredding of automotive tires, and the use of some of the remnant materials in the process of completely separating oil, gasoline, diesel fuel and other such fuels during the purification and "clean up" of salt water and fresh water where such contaminants have been "spilled" or deposited, as well as similar "spills" and deposits on/or in the ground and concrete. The Trade Secret formula combining waste tire powder and polypropylene fibre cut end has been the subject of international scientific research which conclusively confirms the efficacy of the VRT product while costing a fraction of its closest commercial competitor. The Abstract to this study states that, "This composite can be used repeatedly for a least 100 times. Thus, the material cost for recovering one ton of spilled oil is [significantly less than any other known solution], making it very competitive in the market."

The conclusion to the definitive study completed in conjunction with leading international scientists from the foreign, Federal Departments of Marine Environmental Engineering and Institutes of Environmental Engineering and Management was that "for each gram of composite material, more than 8,000 grams of oil can be removed. The combined material holds the advantages of both the component materials with synergistic effect in oil sorption and better add-on-values."

Clair E. Shoemaker, Chairman & CEO of VRT stated that, "This was one of the most difficult decisions in my 40 year business career. VRT's Rubber Crumb™ is revolutionary because it removes hydrocarbons from water. It is the result of years of Research & Development. It represents the most efficient and effective treatment for the greatest threat to the world's most precious resource, water. We have come to the cross roads in meeting demands for our product. It has been placed on the "Approved List" of 20 Oil Spill products by an organization of the world's most prolific oil spill experts. We have considered offers from one of the five largest Oil Supply Companies in the world, but at the end of the day, after meeting for months with the Vertility Environmental Engineering Team, it became clear that they have the vision, personnel, infrastructure, plant capacity and manufacturing capabilities to take Rubber Crumb™ to the world market."

John G. Simmonds, Chairman & CEO stated, "I have not been as excited about an emerging scientific application since the introduction of cellular. Our Chief Administrative Officer, Michael Duffy deserves all the credit. He has worked for 6 months on this transaction, and it was Mike's diligence, integrity, dignity, honesty and sense of fairness which carried the day."

According to Oil Spill Control Services In. ("OSCS") in Richmond Hill, Ontario, there are approximately 5,000 reported oil spills every year just in the Province of Ontario. With the changes to Provincial Legislation in July 2011, requiring dramatically more stringent standards for Ground Water Remediation from 2 feet below ground level to 10 feet below ground level, the market for the Rubber Crumb Filter™ in the ground water remediation is estimated by OSCS. to be 2.8 - 4.2 million units annually. These filters will be manufactured at Vertility's Central Ontario Plant on an assembly line which will be adjacent to the two Rubber Crumb™ production lines."

For more information please refer to www.sedar.com. The management of the company, who take full responsibility for its content, prepared this press release. The CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this release. This press release contains forward-looking statements relating to future events and results that are based on Newlook's current expectations. These statements involve risks and uncertainties including, without limitation, Newlook's ability to successfully develop and market its products, consumer acceptance of such products, competitive pressures relating to price reductions, new product introductions by third parties, technological innovations, and overall market conditions. Consequently, actual events and results in future periods may differ materially from those currently expected.

Contact Information

  • Newlook Industries Corp.
    John G. Simmonds
    Chief Executive Officer
    (905) 833-3072 x223