|By Marketwired .||
|July 21, 2014 06:30 AM EDT||
LETHBRIDGE, ALBERTA -- (Marketwired) -- 07/21/14 -- Robix Alternative Fuels Inc. ("Robix" or the "Corporation") (CSE: RZX) announced today that it has appointed Kevin Aylward as a strategic advisor to the Corporation. Mr. Aylward has significant experience and expertise in regulatory and environmental affairs, government relations, investor relations and media relations. Having served as Minister of the Environment with the Government of Newfoundland and Labrador under Premier Brian Tobin, Mr. Aylward brings a wealth of contacts and a comprehensive understanding of the environmental issues facing the country, especially as it pertains to coastal regions. During his tenure as Minister of the Environment, the Government of Newfoundland and Labrador cultivated an offshore oil and gas industry that balanced wealth generation for the Province with preservation and protection of the ocean and Newfoundland coast. His experience has enabled him to develop extensive expertise in negotiations/mediation both in the Public and Private Sector. In addition, Mr. Alyward is currently the President and CEO/Director of NWest Energy Corporation, a TSX-V listed company.
"As a successful businessman and advocate for the environment, Kevin is very much aware of the need to balance sustainability with the ever increasing demand for energy," commented Nathan Hansen, President and CEO. "We are delighted to welcome him as an advisor to Robix and I look forward to working with him in the coming months as we prepare to unveil our first commercial COV unit. I believe Kevin's guidance and experience will be invaluable to the Company at this stage of our development."
In addition, Robix intends to settle outstanding indebtedness of $510,000 through the issuance of 680,000 common shares of the Corporation at a deemed price of $0.75 per common share (the "Debt Settlement"). The common shares issued in connection with the Debt Settlement will be subject to a four month hold period.
The Corporation is an "industrial products/technology" company, offering to investors a unique opportunity to participate in a leading company in the business of ownership of patents, and their development from commercialization to worldwide expansion through various business arrangements. Robix owns a Clean Ocean Vessel ("COV") patent, which is an oil spill recovery vessel design with the capability to recover oil in rough and debris laden sea conditions. Robix has recognized a worldwide market opportunity for effective containment, recovery and disposal equipment, particularly in the oil spill protection industry, and it proposes to develop a business model as a service provider, and/or equipment provider under licensing agreements with other industry participants, wherein Robix will use its COV patented design solution.
No stock exchange or any securities regulatory body has reviewed the contents of this news release.
This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
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