Robix Alternative Fuels Inc.

Robix Alternative Fuels Inc.

June 03, 2015 17:19 ET

Robix Announces Proposed Unit Private Placement and Grant of Stock Options

LETHBRIDGE, ALBERTA--(Marketwired - June 3, 2015) - Robix Alternative Fuels, Inc. ("Robix" or the "Company") (CSE:RZX)(FRANKFURT:R0X) announced today that it intends to complete a non-brokered private placement offering of units at a price of $1,000 per unit for gross proceeds of up to $500,000. Each unit will consist of a 12% promissory note in the principal amount of $1,000, plus 3,333.33 common share purchase warrants. Each whole warrant will entitle the holder thereof to acquire one common share at a price of $0.30 per share for a period of one year after the closing.

A finder's fee of up to 10% of the gross proceeds of the offering may be paid on all or any portion of the funds raised pursuant to this offering. In addition, finders will receive finders warrants equal to up to 10% of the number of units issued in connection with the offering. Each finders warrant will entitle the holder to purchase one common share at a price of $0.30 for a period of one year after the closing.

The closing of the offering is expected to occur on or about June 30, 2015, and is subject to regulatory approval. For further details on the offering, please contact the Corporation. All securities issued in connection with the offering will be subject to a hold period of four months from the date of closing. The net proceeds from the offering will be used to finance the Corporation's continuing capital program and for general working capital purposes.

Robix also announced that the Corporation, subject to regulatory approval, has granted incentive stock options to purchase a total of 300,000 common shares, at an exercise price of .30 cents per common share. They expire on June 3, 2018, in accordance with the Corporation's stock option plan.

About Robix Alternative Fuels

The Corporation is an "industrial products/technology" company, which has developed an oil spill recovery vessel with the capability to recover oil not only in rough and debris laden sea conditions but also in more contained environments such as lakes, rivers and tailings ponds. Robix has recognized a worldwide market opportunity for effective containment, recovery and disposal equipment, particularly in the oil spill protection industry. The business model is focused on Robix becoming a large-scale provider of services and/or equipment under licensing arrangements with other industry participants, wherein Robix will use its patented design solution.

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

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