LETHBRIDGE, ALBERTA–(Marketwired – Sept. 10, 2014) – Robix Alternative Fuels Inc. (“Robix” or the “Corporation”) (CSE:RZX) announced today that it has given notice of the acceleration of the expiry date of the common share purchase warrants (the “Warrants”) issued as part of a private placement that closed on May 6, 2014. The new expiry date of the Warrants is October 10, 2014. The Warrants are exercisable at a price of $0.45 per share.
The terms of the Warrants included an acceleration clause such that if, at any time, the closing price of the common shares of Robix on the Canadian Securities Exchange is at least $0.54 for a minimum of 10 consecutive trading days (whether or not trading occurs on all such days), the Corporation may, in its sole discretion, provide written notice to the holder that the exercise period has been reduced to thirty (30) days following the delivery of such notice. Notice of the acceleration of the expiry of the Warrants has been mailed to the registered holders of the Warrants.
The Corporation’s common shares have traded in excess of $0.54 for a considerable period of time. Management of the Corporation elected to reduce the exercise period in order to encourage the exercise of the Warrants in a timely manner, which will provide a quick and cost effective pool of funds for Robix to use to continue construction of the Clean Ocean Vessel (COV) and for general working capital uses.
Warrant holders may exercise their Warrants by surrendering to the Corporation, before 5:00 pm (Calgary time) on October 10, 2014, at 1274 – 3rd Avenue South, Lethbridge, Alberta T1J 0J9 Attention: President, the Warrant certificate, together with (i) a duly completed and executed exercise form in the form attached to the Warrant certificate; and (ii) a certified cheque, bank draft, cash or money order in lawful money of Canada payable to Robix Alternative Fuels Inc. in an amount equal to the exercise price for the number of shares subscribed for.
About Robix:
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 Corporation does not undertake to update any forward-looking information except in accordance with applicable securities laws.
Robix Alternative Fuels Inc.
Nathan Hansen
President & CEO
250-683-8957
nathan@robixfuels.com
Robix Alternative Fuels Inc.
Robin Ray
Chief Financial Officer
403-327-3094
robin@robixfuels.com
www.robixfuels.com
