Robix Receives First Commercial Contract for C20 Clean Ocean Vessel
LETHBRIDGE, ALBERTA -- (Marketwired) -- 06/20/16Robix Environmental Technologies, Inc. ("Robix" or the "Corporation") (CSE:RZX)(FRANKFURT:R0X) is pleased to announce that it has received a firm C Series equipment order, to lease the services of a Robix C20 clean ocean oil recovery vessel, from Corporation T&M S. A. de C. V. of Villahermosa, Tabasco, Mexico. ("T&M") (See Robix news release dated June 10th, 2016). Robix will lease the C20 through its wholly owned Mexican subsidiary Corris Technologies Mexico S.A. de C.V. ("Corris"). Under the lease agreement, Robix will build and own the C20 and train T&M staff to operate the equipment. Per the lease agreement T&M will pay Robix a total sum of to $29,700,409 MXN (approx. CAD$2,040,000). The contracted service will be paid monthly at a rate of $1,237,517.00 MXN (approx. CAD$85,000) for a term of 24 months.
The C20 will collect oil or hydrocarbon containing materials in the work area, either in case of environmental emergency or as a result of the daily maintenance operation. Robix will also provide staff training to T&M for the proper operation of the equipment. Maintenance of equipment and warranty materials will be the responsibility of Robix and are included in the monthly fee.
"We demonstrated the C160 last year in Mexico and the results were exceptional," commented Nathan Hansen, President and CEO of Robix. "These results led to this first commercial transaction of the C20, which is simply a smaller version of the C160. This is the first of multiple C Series lease agreements which are currently under discussion. This is our first commercial revenue and I expect that after the first 6 months of operation, revenue from this agreement will cover our basic overhead and operating costs at 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 contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward-looking statements in respect of discussions for future equipment supply contracts. There is no certainty that such contracts contemplated or in discussions will have the intended results. Although the Corporation believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Corporation can give no assurance that they will prove to be correct.
Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risk that the formal documentation effecting the Transaction is not completed or accepted. There is no certainty that a Definitive Agreement effecting the business combination will be completed or accepted. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements and information contained in this news release are made as of the date hereof and the Corporation undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Robix Environmental Technologies, Inc.
President & CEO
Robix Environmental Technologies, Inc.
Chief Financial Officer