LETHBRIDGE, Alberta, Oct. 12, 2016 (GLOBE NEWSWIRE) — Robix Alternative Fuels, Inc. (“Robix” or the “Corporation”) (CNSX:RZX) (Frankfurt:ROX) announced today that the Corporation, subject to regulatory approval, has granted incentive stock options to purchase a total of 1,517,000 common shares, at an exercise price of $0.22 per common share, to a director and consultants of Robix. The options expire on October 11, 2019, in accordance with the Corporation’s stock option plan. Robix has determined that exemptions from the various requirements of Multilateral Instrument 61-101 are available for the issuance of the options to the director of the Corporation (Formal Valuation – Issuer Not Listed on Specified Markets; Minority Approval – Fair Market Value Not More Than 25% of Market Capitalization).
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.
CONTACT: For more information please contact: Robix Alternative Fuels Inc. Website: www.robixfuels.com Nathan Hansen President & CEO Tel: 250-683-8957 Email: firstname.lastname@example.org or Robin Ray Chief Financial Officer Tel: 403-327-3094 Email: email@example.com