Pontus Energy to Operate 16 Franchise Locations
SCOTTSDALE, AZ and CALGARY, AB, Aug. 14, 2014 /CNW/ - RDX Technologies Corporation ("RDX" or the "Company") (TSXV: RDX, OTCQX: RGDEF, FSE: RL7), a water treatment and energy technology company, today announces the execution of a contract for the purchase and operation of RDX franchise locations in Ohio, southern Michigan and northern Kentucky.
The Company yesterday entered into an agreement with Pontus Energy, LLC of Cincinnati, Ohio for sixteen (16) RDX franchises to be located within the State of Ohio, Monroe County Michigan, and the counties of: Boone, Kenton, Campbell, Gallatin, Grant, and Pendleton in the State of Kentucky. The total value of the agreement is US$ 19.92MM. Pontus has agreed to install, open and place into operation all of the locations by March 31st, 2015. Pontus has identified and committed to real estate locations which shall be announced as the locations are permitted, and operating. Pontus will be developing locations concurrently during this fiscal year.
The Company anticipates the filing of franchise paperwork with the State of Ohio no later than September 5th, 2014. A franchise agreement that meets each state's franchise filing laws and disclosures will be completed prior to the delivery of any RDX equipment. Pontus Energy management and staff have been involved in the development of the locations, and RDX training for about seven months.
Dennis M. Danzik, Chief Executive Officer of RDX stated, "The RDX team welcomes Brian Donnellan and the Pontus organization to RDX. It has been both exciting and a great pleasure to work with Brian and his team over the past year. Pontus brings substantial restaurant and food service business experience to the RDX franchise opportunity as well as the right mindset and attitude necessary for a startup operation."
Brian Donnellan, President of Pontus stated, "The RDX business and franchise model is working, and growing. The list of customers that RDX has and continues to build upon is impressive. It is an opportunity that we have worked hard to be a part of, and we look forward to our future with RDX. Pontus now has a platform to offer disruptive interceptor and waste water treatment and a path to profit from energy sales - a unique business combination in two high growth opportunities. During our presale period, from June until today, we have pre-sale commitments from over 225 customer locations in our reserved territory."
Mr. Danzik concluded, "Pontus has been instrumental in helping RDX build the franchise business model, proforma budgets, and marketing identity, as well as assisting in the design of our new service truck fleet. The Pontus team is educated, talented and highly motivated."
About Pontus Energy, LLC.
Pontus Energy, LLC was formed to purchase, install and operate RDX franchises in the Midwestern United States. Its President is Brian M. Donnellan of Cincinnati, Ohio. Mr. Donnellan attended Cincinnati State College. Mr. Donnellan has extensive experience in restaurant management and operations. Pontus Energy is located in Blue Ash, Ohio. Mr. Donnellan can be contacted at [email protected] .
ON BEHALF OF THE BOARD OF DIRECTORS
"Dennis M. Danzik"
Dennis M. Danzik, CEO
"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
For further information: David Waldman at Crescendo Communications, Investor Relations, (212) 671-1021, [email protected]