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
"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