Robix Environmental Technologies Inc ROBXF

Robix Environmental issues 2.78 million shares for debt

[purse]

2016-10-05 18:40 ET - News Release Shares issued 24,089,037 RZX Close 2016-10-05 C$ 0.20 Mr. Nathan Hansen reports ROBIX ANNOUNCES SHARES FOR DEBT PRIVATE PLACEMENT Robix Environmental Technologies Inc. has settled outstanding indebtedness of $696,790 through the issuance of 2,787,158 common shares of the corporation at a deemed price of 25 cents per common share. The common shares issued in connection with the debt settlement are subject to a four-month hold period that expires on Feb. 6, 2017. Karla Jorstad, the chief operating officer and a director of Robix, subscribed for 240,000 common shares, and a company controlled by Wayne MacDonald, the chief development officer of Robix, subscribed for 430,000 common shares. Robix has determined that exemptions from the various requirements of Multilateral Instrument 61-101 are available for the issuance of the units (formal valuation -- issuer not listed on specified markets; minority approval -- fair market value not more than 25 per cent of market capitalization). 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.