ZEOX Corporation

ZEOX Corporation

October 29, 2009 10:39 ET

ZEOX Releases 2009 Financial Results

WILTON, CONNECTICUT--(Marketwire - Oct. 29, 2009) - Mr. Garold R. Spindler, CEO and Chairman of the Board of ZEOX Corporation, (TSX VENTURE:ZOX) (FRANKFURT:ZED) announces the Company has released its annual audited financial statements for the year ended June 30, 2009. The Company is completing a restructuring of its businesses to position ZEOX for growth in 2010. As a result of the restructuring, substantial non-cash write downs have been taken to appropriately reflect asset values. As such, the Company's shareholders' equity decreased to ($626,782) from $8,332,842 at June 30, 2008. Total assets were $5,546,168 compared to $13,776,974 at June 30, 2008. The Company reports a 2009 operating loss of $4,780,593 and an additional loss on write downs of $5,027,481 for a total loss of $9,808,074 ($0.17 per share) compared to a total loss of $2,831,172 ($0.05 per share) in 2008. Revenues increased from $851,651 in 2008 to $992,265 for 2009.

The financial results for the year ended June 30, 2009 reflect an organization transitioning from a research and development focus to a business model based on exploiting reserves and full scale mining, processing and distribution operations. The Company is currently focusing on financial and production capacity to implement operations supporting the successful commercialization of zeolite-based product formulations globally.

"The operating results for 2009 are unacceptable and cannot continue. Hence, we have implemented a new business model focused on profitable revenue growth and less reliance on research and development. We have taken several steps to rationalize expenses and are beginning to see an uptick of revenues", stated Spindler, the Company's new Chairman and CEO. Additionally, in order to improve communication with all stake holders and the investment community, the Company will be hosting an investor conference call next week on November 2nd to more fully describe management's strategy and vision. Details of the call will be released later in the week.

For a more complete business and financial profile of the Company, management encourages investors to view the Company's documents posted on www.SEDAR.com and on the Company's website www.zeoxcorporation.com.

On behalf of the Board of Directors

Garold R. Spindler, CEO and Chairman of the Board

Legal Notice Regarding Forward-Looking Statements: This news release contains "Forward-Looking Statements" within the meaning of applicable Canadian securities legislation. Forward-Looking Statements are indicated expectations or intentions. Forward-Looking Statements in this News Release include that the Company is positioning for growth in 2010; that ZEOX is transitioning to a full scale mining, processing and distribution company, and working on the successful commercialization of unique zeolite-based product formulations globally. Factors that could cause actual results to be materially different include that markets may not develop as quickly as anticipated or at all, ZEOX may not be able to raise sufficient capital to carry out development, competitive products may capture some or all of its market or productive capacity may not be large enough to handle market demand. Investors are cautioned against placing undue reliance on forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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