TORONTO, May 31, 2012 /CNW/ - RXT 110 INC. (CNSX:RXT) (the "Company") announced today that, pursuant to a special resolution of shareholders passed at the Company's annual and special meeting May 24, 2012 (the "Meeting"), the Company has filed articles of amendment and changed its name to Biosenta Inc. Shareholders also approved the Employee Stock Option Plan and the grant of options made thereunder at the Meeting.
Additionally, the Company wishes to announce that a further 5,284,433 Class A Shares were received for cancellation and cancelled during May 2012 pursuant to the settlement agreement with Donald Meade, Rx110 Inc., Rx100 Inc. and certain other defendants in respect of litigation commended by Company to recover certain of the shares issued pursuant to an intellectual property license granted by Rx110 Inc. to the Company. There remain 144,911 shares to be returned for cancellation pursuant to the settlement agreement.
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, 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.
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 forward-looking statements.
On behalf of the Board of Directors of RXT 110 Inc.
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.
For further information:
Bruce Lewis, President & Chief Executive Officer
RXT 110 Inc.
1120 Finch Avenue West, Suite 503,
(416) 410 2019