October 31, 2016 06:30 ET
LETHBRIDGE, ALBERTA--(Marketwired - Oct. 31, 2016) - Robix Environmental Technologies, Inc. ("Robix" or the "Corporation") (CSE:RZX)(FRANKFURT:R0X) announced today that it intends to settle outstanding indebtedness of $273,133.78 owing to certain holders of unsecured, 12% per annum interest bearing promissory notes through the issuance of 1,707,086 common shares of the Corporation at a deemed price of $0.16 per common share (the "Debt Settlement"). The common shares issued in connection with the Debt Settlement will be subject to a hold period of four months from the date of closing.
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.
Robix Environmental Technologies, Inc.Nathan HansenPresident & CEO250email@example.comRobix Environmental Technologies, Inc.Robin RayChief Financial Officer403firstname.lastname@example.org
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