RDX Board Approves Stock Buyback Plan
Up To 15,000,000 Shares Over Twelve Months
SCOTTSDALE, AZ, Sept. 5, 2013 /CNW/ - RDX ("RDX" or the "Company") (TSXV: RDX, OTCQX: RGDEF, FSE: RL7) a water treatment and energy technology company announces that the Board of Directors has approved a share buyback plan for the next year.
RDX announces that subject to the rules of the TSXV, a stock buyback plan that will commence as soon as an approved brokerage account can be established. The stock buyback plan will run through August of 2014, but the stated shares can be purchased beginning when the approved brokerage account is established. All shares will be purchased through a broker/member at the market price based on the last independent trade of RDX shares. RDX will only transact through a broker/member in the public market. Notice will be give if RDX changes brokers. All trades must be done through the TSXV, there will be no pre-arranged trades, crosses or private trades. All shares purchased will be cancelled.
Dennis M Danzik, RDX CEO stated, "This is one of the steps that the Company will be taking to clean up our capital structure over the next twelve months. By reducing the number of outstanding shares, we believe we are creating more flexibility as a Company and anticipate steadily increasing our shareholder value. Another foundational step in a long term process to build a value based organization."
About RDX Technologies Corporation
RDX Technologies Corporation is a water treatment and energy technology company. The Company is applying proprietary technology to treat water generated from industrial and commercial waste water markets. These markets include a wide variety of clients across a broad spectrum of industries. The Company trades on the TSX Venture Exchange under the symbol "RDX", the OTCQX as "RGDEF" and the Frankfurt Stock Exchange as "RL7".
ON BEHALF OF THE BOARD OF DIRECTORS
"Dennis M. Danzik"
Dennis M. Danzik, CEO
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SOURCE RDX Technologies CorporationFor further information:
David Waldman at Crescendo Communications