Robix Alternative Fuels Inc.

Robix Alternative Fuels Inc.

February 18, 2016 17:02 ET

Robix Announces Proposed Securities for Debt Private Placement and Grant of Stock Options

LETHBRIDGE, ALBERTA--(Marketwired - Feb. 18, 2016) - Robix Alternative Fuels, Inc. ("Robix" or the "Corporation") (CSE:RZX) (FRANKFURT:R0X) announced today that it intends to settle outstanding indebtedness of $95,000 through the issuance of 678,571 units at a price of $0.14 per unit (the "Debt Settlement"). Each unit will consist of one common share and one common share purchase warrant. Each whole warrant will entitle the holder thereof to acquire one additional common share at a price of $0.19 per share for a period of one year after the closing. All securities issued in connection with the Debt Settlement will be subject to a hold period of four months from the date of closing.

Robix also announced that the Corporation, subject to regulatory approval, has granted incentive stock options to purchase a total of 400,000 common shares, at an exercise price of $0.14 per common share, to consultants of Robix. They expire on February 18, 2019, in accordance with the Corporation's stock option plan.

About Robix:

The Corporation is an "industrial products/technology" company, offering to investors a unique opportunity to participate in a leading company in the business of ownership of patents, and their development from commercialization to worldwide expansion through various business arrangements. Robix owns a Clean Ocean Vessel ("COV") patent, which is an oil spill recovery vessel design with the capability to recover oil in rough and debris laden sea conditions. Robix has recognized a worldwide market opportunity for effective containment, recovery and disposal equipment, particularly in the oil spill protection industry, and it proposes to develop a business model as a service provider, and/or equipment provider under licensing agreements with other industry participants, wherein Robix will use its COV patented design solution.

No stock exchange or any securities regulatory body has reviewed the contents of this news release.

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