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LETHBRIDGE, ALBERTA--(Marketwired - Jan 13, 2016) - Robix Alternative Fuels Inc. ("Robix" or the "Company") (CSE:RZX)(FRANKFURT:R0X) announced today that it has extended the expiry date of the 913,438 common share purchase warrants originally issued on January 27, 2015, from January 27, 2016 until July 27, 2016. In addition, Robix has extended the expiry date of the 508,343 common share purchase warrants originally issued on January 30, 2015, from January 30, 2016 until July 30, 2016.
Robin Ray, the Chief Financial Officer and a director of Robix, holds an aggregate of 547,500 warrants and a company controlled by Nathan Hansen, the Chief Executive Office, President and a director of Robix, holds 241,250 warrants. Robix has determined that exemptions from the various requirements of Multilateral Instrument 61-101 are available for the extension of the warrants (Formal Valuation - Issuer Not Listed on Specified Markets; Minority Approval - Fair Market Value Not More Than 25% of Market Capitalization).
About Robix Alternative Fuels
The Corporation is an "industrial products/technology" company, which has developed an oil spill recovery vessel with the capability to recover oil not only in rough and debris laden sea conditions but also in more contained environments such as lakes, rivers and tailings ponds. Robix has recognized a worldwide market opportunity for effective containment, recovery and disposal equipment, particularly in the oil spill protection industry. The business model is focused on Robix becoming a large-scale provider of services and/or equipment under licensing arrangements with other industry participants, wherein Robix will use its 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.