Up To 15,000,000 Shares Over Twelve Months
SCOTTSDALE, AZ, Sept. 5, 2013 /PRNewswire/ - RDX ("RDX" or the "Company") (TSXV: RDX, OTCQX: RGDEF, FSE: RL7) a water treatment and energy technology company announces that the
Board of Directors has approved a share buyback plan for the next year.
RDX announces that subject to the rules of the TSXV, a stock buyback
plan that will commence as soon as an approved brokerage account can be
established. The stock buyback plan will run through August of 2014,
but the stated shares can be purchased beginning when the approved
brokerage account is established. All shares will be purchased through
a broker/member at the market price based on the last independent trade
of RDX shares. RDX will only transact through a broker/member in the
public market. Notice will be give if RDX changes brokers. All trades
must be done through the TSXV, there will be no pre-arranged trades,
crosses or private trades. All shares purchased will be cancelled.
Dennis M Danzik, RDX CEO stated, "This is one of the steps that the
Company will be taking to clean up our capital structure over the next
twelve months. By reducing the number of outstanding shares, we believe
we are creating more flexibility as a Company and anticipate steadily
increasing our shareholder value. Another foundational step in a long
term process to build a value based organization."
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 a broad 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