RDX Granted Transportation Fuel Blending License
Accounting System Changes
SCOTTSDALE, AZ and CALGARY, AB, Jan. 8,
2015 /PRNewswire/ - RDX Technologies Corporation ("RDX"
or the "Company") (TSXV: RDX, OTCQX: RGDEF, FSE: RL7), a water
treatment and energy technology company, today announces several
material events.
The Company had tentatively scheduled a conference call for
today, January 8, 2015, but with the
execution of the RDX Europe agreement and other events, the Company
has decided to confirm an update call for the second week of next
month where annual financial guidance and recent events can be
discussed more openly. A confirmation and dial in number will be
released in advance of the conference call.
The Company is pleased to announce that it has entered an
agreement with Astoria Capital, S.A. ("ACL") of Wroclaw,
Poland for the launch of RDX
Europe Sp. z o.o. ACL's website and contact info can be found
at: www.astoriacapital.pl. Details of the new entity will be
released over the next several weeks. The entity will be based in
Poland with plans to list the
company on the Warsaw Stock Exchange.
RDX has also been granted a fuel blenders license at its
Missouri facility. This will now
allow the Company to blend finished transportation fuels for
distribution. The Company now plans to file for blending licenses
immediately in in Virginia and
Florida.
The Company also announced today that it is converting fully to
GP Dynamics accounting software which will allow for integration of
website and customer ordering.
Dennis M. Danzik, Chief Executive
Officer of RDX, stated, "This is a strong start to 2015 during a
very challenging time in the energy industry. The collapse of oil
prices are being felt everywhere. As predicted in our earlier
plans, the elimination of tax credits for biodiesel and lower oil
prices will help grow RDX over time against competitors that have
relied on subsidies for profits and have kept waste material prices
elevated for several years. We now see material prices plummeting
and with no future tax credits, our competitors face a very
difficult future. The RDX business plan is long term and should
greatly benefit from the market environment returning to normal
after years of subsidies creating a token economy."
"Our efforts in Europe are now
starting to payoff through these initial agreements and a
comprehensive plan for our launch into the lucrative European
energy and water market. I am very pleased with our working
partners in Poland and our
opportunities in Europe going
forward.
"In addition, our staff is working hard to fully integrate GP
Dynamics before our fiscal year end. This will allow RDX to grow in
transportation fuels and allow our customers to enact trades via
our intranet without the need for RDX adding staff."
Mr. Danzik concluded, "I am also pleased to announce our first
blender's license that will grant RDX the ability to blend various
qualities of diesel fuel and renewable fuel for delivery to a much
broader base of customers. These efforts will continue to grow our
opportunity to build recurring revenue."
ON BEHALF OF THE BOARD OF DIRECTORS
"Dennis M. Danzik"
Dennis M. Danzik, CEO
danzikdirect@rdxh2o.com
"Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release. This news release may contain
forward-looking statements. Forward-looking statements address
future events and conditions and therefore, involve inherent risks
and uncertainties. Actual results may differ materially from those
currently anticipated in such statements. Such information is
subject to known and unknown risks, uncertainties and other factors
that could influence actual results or events and cause actual
results or events to differ materially from those stated,
anticipated or implied in the forward- looking information. Readers
are cautioned not to place undue reliance on forward-looking
information, as no assurances can be given as to future results,
levels of activity or achievements."
SOURCE RDX Technologies Corporation