SCOTTSDALE, AZ, Dec. 2, 2013 /CNW/ - RDX Technologies Corporation ("RDX" or the "Company") (TSXV: RDX, OTCQX: RGDEF, FSE: RL7) a technology driven company operating in the waste water and energy services industries, today announces that the Board of Directors has approved the Company to proceed with a Normal Course Issuer Bid through the facilities of the TSX Venture Exchange.
The Company has engaged Frédéric Dulude a broker with Industrial Alliance Securities Inc., a member of the TSX Venture Exchange, to conduct the Normal Course Issuer Bid on behalf of RDX. The Company intends to purchase from the market through the facilities of the TSX Venture Exchange 8,616,902 common shares of the Issuer representing 5% of the currently issued and outstanding common shares of RDX over the next 12 months commencing on or about December 1, 2013. All common shares purchased by the Company under the Normal Course Issuer Bid will be cancelled.
The Normal Course Issuer Bid will be made in accordance with TSX Venture Exchange Policy 5.6. The purpose of the Normal Course Issuer Bid is to reduce the number of issued and outstanding common shares of RDX and to help streamline the capital structure of the Company over the next 12 months.
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