TORONTO, March 19, 2012 /CNW/ - RXT 110 Inc. (CNSX: RXT) (the "Company") announced today that it has entered into an amended and
restated license agreement with respect to the license of certain
intellectual property originally publicly disclosed in a news release
on June 10, 2011. The amended and restated license agreement is
substantially the same as the original license agreement except a
co-licensor has been added as a party to the agreement, certain
intellectual property not originally covered by the license agreement
has been added, including intellectual property utilized in the
manufacture of Zeromold, and the aggregate interim license
consideration has increased to $300,000.
In addition the Company is pleased to announce that it has exercised its
right to convert the interim license granted under an intellectual
property license agreement previously publicly disclosed June 10, 2011,
as amended and restated, into an assignable, transferable, perpetual,
world-wide exclusive license (the "License"). In connection with the
exercise of the right to acquire the License and in accordance with the
terms of the license agreement, the Company will issue 20,000,000 fully
paid and non-assessable Class A shares of the Company to the
licensors. The effective date for the issuance of the Shares and the
acquisition of the License is April 10, 2012.
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, an 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.
On Behalf of the Board of Directors of RXT 110 Inc.
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
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.
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