08:12:23 EDT Fri 03 May 2024
Enter Symbol
or Name
USA
CA



Robix Environmental Technologies Inc
Symbol RZX
Shares Issued 55,933,690
Close 2017-02-03 C$ 0.245
Market Cap C$ 13,703,754
Recent Sedar Documents

Robix to settle debt with shares, cash; grants options

2017-02-03 13:52 ET - News Release

Mr. Nathan Hansen reports

ROBIX ANNOUNCES OPTION GRANT, SHARES FOR DEBT PRIVATE PLACEMENT AND DEBT SETTLEMENT

Robix Environmental Technologies Inc., subject to regulatory approval, has granted incentive stock options to purchase a total of 2,559,000 common shares, at an exercise price of 22 cents per common share, to a director, officer and consultants of Robix. The options expire on Feb. 3, 2020, in accordance with the corporation's stock option plan. Robix has determined that exemptions from the various requirements of Multilateral Instrument 61-101 are available for the issuance of the options to the director and officer of the corporation (formal valuation, issuer not listed on specified markets; minority approval and fair market value not more than 25 per cent of market capitalization).

Robix also announced that it intends to settle outstanding indebtedness of $275,000 through the issuance of 1,375,000 common shares of the corporation at a deemed price of 20 cents per common share. The common shares issued in connection with the debt settlement will be subject to a hold period of four months from the date of closing.

Finally, Robix also announced that it has settled an outstanding debt of Formation Fluid Management Inc., which company was acquired by Robix on Oct. 7, 2016 (see Robix's Oct. 11, 2016, news release), in connection with a change of control fee owing to Canaccord Genuity Corp. pursuant to a financial advisory letter. Pursuant to the settlement, Robix agreed to pay Canaccord $250,000, plus government sales tax, and issue 750,000 common shares, which common shares are subject to a hold period that expires on June 4, 2017.

About Robix Environmental Technologies Inc.

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 patent, which is an oil spill recovery vessel design with the capability to recover oil in rough and debris-laden sea conditions.

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