Revolutionary Oil Spill Clean Up Technology
Recovery vessel design with the capability to recover oil in rough and debris laden sea conditions
Message: Robix Appoints Alva, O'Driscoll & Associates as Business Development Consultants
Targets Mexico as Important Near Term Market
LETHBRIDGE, ALBERTA--(May 22, 2015) - Robix Alternative Fuels, Inc. ("Robix" or the "Company") (CSE:RZX)(FRANKFURT:R0X) is pleased to announce that, Corris Technologies Mexico S.A. de C.V. ("Corris"), the Company's Mexican subsidiary, has entered into an engagement agreement (the "Engagement Agreement") with Alva, O'Driscoll & Associados, S.C. (the "Consultant") in order to, among other things, identify and present potential business-related transactions to Robix and Corris and to assist with bringing such transactions to a close. The Engagement Agreement contemplates services to be provided with respect to potential business opportunities in certain specified jurisdictions, with the initial focus on Mexico.
"Mexico has the potential to be a very important near-term market for us," commented Nathan Hansen, President and CEO of Robix. "Over the past several weeks we have taken a number of steps to increase our presence in Mexico, including the formation of our Mexican subsidiary Corris." He continued, "The board of Robix and myself are looking forward to working with Karla Alva and her team. This group is very accomplished and well connected to our target markets in several geographic jurisdictions, including Mexico. They have already introduced our clean ocean vessel technology to several key potential customers and Government officials. I believe that Karla's involvement will prove invaluable as we work to get our oil spill cleanup products accepted as a "standard of care" in Mexico and ultimately in the hands of customers."
Under the terms of the Engagement Agreement, the Consultant has the right to act exclusively for Robix and Corris in the jurisdictions set forth in the Engagement Agreement for an initial term of 12 months, with either party entitled to terminate the Engagement Agreement with 30 days' notice following the initial term. The Consultant will be paid a success fee at the closing of any transaction presented to Robix and/or Corris, this fee will equal ten percent of the consideration paid in respect of such transactions. The Consultant will also be paid a work fee of $10,000 per month with a portion of the work fee to be deducted from the success fee if and when paid to the Consultant. Ms. Karla Alva is both a shareholder of the Consultant and a director and shareholder of Corris, and as such she is a related party of Robix under applicable securities legislation. Robix has determined that exemptions from the formal valuation requirement under section 5.5(b) of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101") and exemptions under section 5.7(1)(a) from the minority approval requirement requirements of MI 61-101 are available for this arrangement. Alva, O'Driscoll & Associados, S.C. has also been retained on a non-exclusive basis to provide legal services in respect of the laws of Mexico to both Robix and Corris.
For more information on Corris please visit the newly launched website www.corristechnologiesmexico.mx
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.
Robix Alternative Fuels Inc.
President & CEO
Robix Alternative Fuels Inc.
Chief Financial Officer
The Howard Group
(403) (888) 221-0915
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