ZEOX's Palo, Saskatchewan Sodium Sulphate Mine and Processing Plant Opens
08 Décembre 2008 - 3:00PM
Marketwired
Mr. LuVerne E.W. Hogg, President and CEO of ZEOX Corporation (TSX
VENTURE: ZOX)(FRANKFURT: ZED), is pleased to announce the Company's
subsidiary, Nanostructured Minerals Corporation ("NMC"), has
commenced production of sodium suphate at the Palo, Saskatchewan
site. ZEOX owns 49% of NMC, while the Company's partner and
shareholder, Logician Minerals Limited of Hong Kong owns 51% of
NMC. ZEOX Corporation is the managing and operating partner of NMC.
NMC signed a ten-year supply agreement estimated at a gross
sales value of $75,000,000 on October 29th, 2008. The contract is
with Canada's largest producer of potassium sulphate fertilizer
also located in Saskatchewan. The principal ingredients in the
manufacture of potassium sulphate are potash and sodium sulphate.
The commercial grades of sodium sulphate at Palo are produced with
purities of 98% to 99%.
NMC has upgraded the Palo mine and processing plant since it
took ownership in September 2007. All environmental and operating
permits have been received. Re-commissioning and operational
processing trials were completed by the end of November. Additional
personnel for plant processing operations were hired and initial
production began December 1st, 2008. The first bulk truckloads of
sodium sulphate are scheduled to be delivered mid-December
2008.
"We would like to thank our employees, contractors, suppliers,
the community, and Saskatchewan's permitting agencies whose
cooperation enabled the opening of the Palo operations within 14
months. We look forward to a long and profitable relationship,"
stated LuVerne Hogg.
For a more complete business and financial profile of the
Company, management encourages interested parties to view the
Company's documents posted on www.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 we
will sell $75,000,000 of sodium sulphate over the next 10 years to
one customer; that the commercial grade sodium sulphate at Palo is
produced with purities of 98% to 99%; and that the first bulk
truckloads of sodium sulphate will be delivered mid-December; and
that we will be able to continuously ship sodium sulphate. Factors
that could cause actual results to be materially different include
that our customer is not satisfied with product quality, price or
service; that sodium sulphate markets or pricing may not develop or
continue as anticipated or that productive capacity may not be
large enough to handle market demand, that our production is less
pure than anticipated and is either rejected or can only be sold at
lower prices; and that various factors may prevent our shipping at
any time including labour issues, availability of transportation,
etc. Investors are cautioned against placing undue reliance on
forward-looking statements. It is not our policy to update forward
looking information.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: ZEOX Corporation LuVerne E.W. Hogg 1-877-767-0343
(250) 767-6134 (FAX) Email: vhogg@ZEOXcorporation.com ZEOX
Corporation Craig H. Bird Investor Relations Contact (215) 392-4981
Email: CHBird@segue.biz Website: www.ZEOXcorporation.com
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