/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE
TORONTO, April 10, 2012 /CNW/ - RXT 110 INC. (CNSX: RXT) (the "Company") is pleased to announce that pursuant to the terms of an
amended and restated intellectual property license agreement, the
Company has completed the transaction, previously announced on March
19, 2012, converting the interim license into a perpetual, world-wide
exclusive license for the intellectual property. In connection
therewith, the Company has issued 20,000,000 fully paid and
non-assessable Class A Shares of the Company (the "Share
Consideration"). In connection with the completion of the
transactions, the Company has also entered into a securities pledge
agreement and an escrow agreement respecting the Share Consideration
pursuant to which the Share Consideration is pledged to the Company to
secure the obligations of the counterparties to the License Agreement
for a minimum of three years and the Share Consideration is held in
escrow. The Share Consideration is also subject to statutory and
contractual restrictions on transfer.
About RXT 110 Inc.
RXT 110 Inc.'s line of retail anti-microbial products will effectively
kill mould, bacteria and fungi on contact and prevent re-growth. These
products address the demand created by the mounting health and
environmental concerns. Mould can affect the immune system, nervous
system, liver, kidneys, blood and cause brain damage.
RXT will also manufacture and distribute RXT 110, anti-microbial
filler. Calcium Carbonate is one of the most common fillers used
industrially. It is susceptible like other fillers that hold moisture
to attracting mould. Annual global revenue in the calcium carbonate
filler industry approximates 140 billion dollars. RXT 110 Inc. will
produce anti-microbial filler that performs 'filling' and 'bulking'
functions like calcium carbonate. RXT 110 does not attract moisture and
consequently mould infestation. RXT filler with its anti-microbial
high ph core in individual particles enhances commercial product
life and eradicates a broad spectrum of known bacteria, fungi, algae
and other micro - organisms by suppression of their reproduction.
This release may contain forward-looking statements information and
statements which constitute "forward-looking information" under
Canadian securities law and which may be material regarding, among
other things, the Company's beliefs, plans, objectives, estimates,
intentions and expectations with respect to its capital and funding
plans. Inherent in the forward-looking information and statements are
known and unknown risks, uncertainties and other factors beyond the
Company's ability to control or predict, which give rise to the
possibility that the Company's predictions, forecasts, expectations or
conclusions will not prove to be accurate, that its assumptions may not
be correct and that the Company's plans, objectives and statements will
not be achieved. Actual results or developments may differ materially
from those contemplated by the forward-looking information and
statements. Consequently, undue reliance should not placed on such
The shares have not been, nor will be, registered under the United
States Securities Act of 1933, as amended, and may not be offered or
sold in the United States absent registration or applicable exemption
from the registration requirement of such Act. This press release
shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to qualification
under the securities laws of any such jurisdiction.
On behalf of the Board of Directors of RXT 110 Inc.
The CNSX has in no way passed upon the merits of the proposed
transaction and has neither approved nor disapproved of the contents of
this press release. Neither the CNSX nor its Regulation Services
Provider (as such term is defined in the policies of the CNSX) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE RX 110 Inc.
For further information:
Bruce Lewis, President & Chief Executive Officer
RXT 110 Inc.
1120 Finch Avenue West, Toronto, Ontario M3J 3H7
(416) 410 2019