ZEOX Corporation
TSX VENTURE : ZOX

ZEOX Corporation

June 06, 2007 09:30 ET

Zeox to Acquire the Assets of Palo Sodium Sulphate Mine

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 6, 2007) - Mr. LuVerne E.W. Hogg, President and CEO of ZEOX Corporation (TSX VENTURE:ZOX) is pleased to announce that it has entered a letter of intent ("LOI") with Millar Western Industries Ltd. ("Millar Western") to purchase substantially all the assets of the Palo Sodium Sulphate Mine, located near Whiteshore Lake, Saskatchewan for CDN$1,000,000. The assets include 682 acres of land, mineral leases, processing plant and equipment.

The LOI is subject to due diligence including legal review & assessment, legal documentation including an Asset Purchase Agreement, approval of the Board of Directors of ZEOX and Millar Western, and approval by all third parties whose consent is required. The Agreement is expected to close on or before July 16, 2007.

The assets will be assigned to the Company's wholly owned subsidiary Nanostructured Minerals Corporation. The assets of Palo include valuable industrial mineral reserves and processing capacity that will allow ZEOX to satisfy the anticipated demand for several emerging markets in the oil and gas industry that ZEOX intends to supply in the future. The plant has a production capacity of 100,000 tonnes of sodium sulphate.

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 substantially all the assets of Palo Sodium Sulphate Mine and that these assets will allow ZEOX to satisfy the anticipated demand for several emerging markets in the oil and gas industry that ZEOX intends to supply in the future. Factors that could cause actual results to be materially different include that our due diligence does not show assets as initially thought, we may not be able to agree on final documents,our anticipated demand may not materalize 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