Suffolk County Water Treatment System Installation Complete
Company Announces Board Changes
SCOTTSDALE, AZ and CALGARY, AB, Dec. 16, 2014 /CNW/ - RDX Technologies Corporation ("RDX" or the "Company") (TSXV: RDX, OTCQX: RGDEF, FSE:RL7), a water treatment and energy technology company, today announced that it expects to surpass $2 million in revenues in its water division for the third quarter of fiscal 2015. In addition, the Company announced that it completed the installation of a water treatment and mining system in Suffolk County, New York, which is now fully operational.
Dennis M. Danzik stated "RDX water revenues are back on a growth trajectory, as we successfully refocused our business model—concentrating on high margin, recurring revenue opportunities and licensing. This will mark the first quarter we have surpassed $2 million from water treatment revenue and we are now seeing our water treatment opportunities expand and grow at a manageable rate. Growth in water treatment also equates to growth in overall fuel sale revenue, as our access to raw materials that can be refined into fuel increases in relation to RDX water treatment installations. I also wish to personally congratulate our engineer in charge of manufacturing, David Bogardus, for his dedication in completing the Suffolk County installation. The Suffolk County opportunity is our largest opportunity to date, with over 20 million gallons per day in process. The Company will provide a full update on the project during our upcoming conference call on January 8th."
The Company also announced a Board change with the departure of Richard Carrigan, who has served on the Board of RDX since January of 2012.
Dennis M. Danzik, Chief Executive Officer of RDX, stated, "The Company wishes to thank Richard for his service over the last few years. Our plan is to expand the depth of the board by adding additional independent directors with industry experience, customer relationships and capital markets expertise. We look forward to announcing these appointments in early 2015, which will also support our future plans to list on a senior U.S. exchange."
The Company has prepared a video based Business Update which is now available on its website at www.rdxh2o.com.
Conference Call – The RDX Progress. Growth and Profitability
The Company will host a business update conference call which will provide more detail regarding the third quarter and expectations for fiscal 2015, as well as upcoming RDX real estate developments, a franchise update, and an energy sales update. The call will be hosted by RDX CEO Dennis M. Danzik and will feature several key RDX division management speakers as well as operators, on Thursday, January 8th at 10:00 a.m. Eastern Time. The Company will provide dial in information ahead of the scheduled call.
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: Please contact: David Waldman at Crescendo Communications, (212) 671-1021, [email protected]