ZEOX Corporation

ZEOX Corporation

June 13, 2007 10:38 ET

ZEOX to Acquire a 51% Interest in Nano Clay Technology Patents

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 13, 2007) - Mr. LuVerne E.W. Hogg, President and CEO of ZEOX Corporation (TSX VENTURE:ZOX) is pleased to announce that the Company has entered a letter of intent ("LOI") to create a new business infrastructure designed to advance and commercialize various intellectual properties ("IP") developed, owned and legally held by David J. Chaiko ("Chaiko") or Nano Clays, LLC.

The IP consists of United States patents or patentable technologies covering Clay/Polymer/Nano-composites, Carbon Nano-Tube Nano-Composites and Surfactants. Several of the IP assets are ready for commercialization.

The new business venture will be structured as follows:

- Nano Clays LLC ("NCL"), an existing limited liability corporation in the State of Arizona will be utilized as the operating entity for the LOI.

- An executive management team will be established with Dan Eyde of ZEOX being the Managing Member of NCL and Chaiko providing ongoing technical development for NCL.

- NCL will enter into a Management Agreement with Chaiko.

- Chaiko agrees to assign or transfer all rights to his intellectual properties to NCL for up to a 49% interest in NCL.

- Chaiko agrees to assign all customer development to NCL.

- ZEOX agrees to provide all the infrastructure requirements including corporate financing in an amount adequate to advance the commercial business plans of NCL in return for a 51% interest in NCL.

- ZEOX and Chaiko will create a business plan detailing the goals of product development, marketing strategies, revenue models and budgets for NCL.

- The transaction is subject to a due diligence review and legal documentation.

- The transaction is subject to the approval of the Board of Directors of ZEOX and NCL.

- The transaction is subject to any regulatory approvals that may be required.

NCL will be immediately engaged in completing the technology requirements of several large customers who wish to utilize the IP in large-scale commercial processes. While there is no certainty that the IP will in fact be commercially successful with these customers results to date have been very encouraging.

For a more complete business and financial profile of the Company, management encourages interested parties to view the Company's documents posted on sedar.com.

On behalf of the Board of Directors

LuVerne E.W. Hogg, President & Chief Executive Officer

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 ZEOX will acquire a 51% interest in NCL and that the IP of NCL will allow NCL to satisfy the anticipated demand for several emerging markets that NCL intends to supply in the future. Factors that could cause actual results to be materially different include that our due diligence does not show IP asset value as great as initially thought, customers may not be able to utilize the IP in commercial volume or we may not be able to agree on final documents for the establishment of NCL, or other conditions may not be fulfilled. 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.

Contact Information

  • ZEOX Corporation
    LuVerne E.W. Hogg
    (250) 767-6788
    (250) 767-6134 (FAX)
    Email: vernehogg@shaw.ca