RDX Technologies Closes Sale of Canadian Assets
05 Septembre 2013 - 5:27PM
OTC Markets
RDX Technologies Closes Sale of Canadian Assets
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RDX Technologies Closes Sale of Canadian Assets
Canada NewsWire
SCOTTSDALE, AZ, Sept. 5, 2013
RDX Closes Sale of its Canadian Environmental and Soils
Operations
SCOTTSDALE, AZ, Sept. 5, 2013 /CNW/ - RDX ("RDX" or the
"Company") (TSXV: RDX, OTCQX: RGDEF, FSE: RL7) a water
treatment and energy technology company announces the closing
of the previously announced sale of both of its Canadian
Environmental
Services and GreenFill business divisions to Ridgeline Canada, Inc.
of
Calgary.
RDX is pleased to announce subject to final approval of the TSXV
the
sale of all of its Canadian Environmental ("Consulting") and
GreenFill
soils treatment ("GreenFill") business divisions to Ridgeline
Canada,
Inc. (RCI) of Calgary. The sale
includes both operating divisions based
in Canada. The divisions known as
Ridgeline Environment and Ridgeline
GreenFill will be operated as a private company. Ridgeline
Canada,
Inc. will also become the exclusive representative for waste
water
treatment in Canada for the oil
and gas industry.
In summary, the terms of the transaction are as follows; a
$
2,000,000.00 paid in earnest monies with $2,377,693.11 in cash at
closing to the Vendor and to pay down Vendor debt, and
additional
assumption of Vendor debt of and the immediate assumption by RCI of
$
2,565,891 in vendor debt and overhead costs by RCI for a
total price of
$6,943,584.11. A discount of
$500,000 was made for the cash
payment of
the $2,500,000 note to be issued
which reduce the net price from what
would have been without discount $7,443,584.11
About RDX Technologies Corporation
RDX Technologies Corporation is a water treatment and energy
technology
company. The Company is applying proprietary technology to treat
water
generated from industrial and commercial waste water markets.
These
markets include a wide variety of clients across abroad spectrum
of
industries. The Company trades on the TSX Venture Exchange under
the
symbol "RDX", the OTCQX as "RGDEF" and the Frankfurt Stock Exchange
as
"RL7".
ON BEHALF OF THE BOARD OF DIRECTORS
"Dennis M. Danzik"
Dennis M. Danzik, CEO
danzikdirect@rdxh2o.com
"Neither TSX Venture Exchange nor its Regulation Services
Provider (as
that term is defined in the policies of the TSX Venture
Exchange)
accepts responsibility for the adequacy or accuracy of this
news
release. This news release may contain forward-looking
statements.
Forward-looking statements address future events and conditions
and
therefore, involve inherent risks and uncertainties. Actual results
may
differ materially from those currently anticipated in such
statements.
Such information is subject to known and unknown risks,
uncertainties
and other factors that could influence actual results or events
and
cause actual results or events to differ materially from those
stated,
anticipated or implied in the forward- looking information. Readers
are
cautioned not to place undue reliance on forward-looking
information,
as no assurances can be given as to future results, levels of
activity
or achievements."
SOURCE RDX Technologies Corporation
RDX Technologies (CE) (USOTC:RGDEF)
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