RDX TECHNOLOGIES CORPORATION ("RDX")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: July 31, 2014
TSX Venture Tier 1 Company
TSX Venture Exchange has accepted for filing documentation pursuant an Asset Purchase Agreement (the "Agreement") between the Company and Renewable Energy Products (the "Seller"), whereby the Company will acquire certain biodiesel production facility and other related assets located in Santa Fe Springs, California. In consideration, the Company will pay $100,000 cash and up to 7,490,437 common shares of the Company ("Shares"), of which 4,150,000 Shares will be issued upon closing at a deemed price of $0.70 per Share. The remaining common shares, including 58,005 common shares to be issue to satisfy accrued interest (together, the "Additional Shares") will be issued on the earlier of i) the listing of the Company on the NYSE, and ii) October 31, 2014 at a deemed price of $0.37 per Additional Share. The Company will issue a promissory note for the Additional Shares; the Seller can elect to be paid in cash in the amount of $1,214,500 if Additional Shares are not issued by October 31, 2014.
Insider / Pro Group Participation: None
For further information, please refer to the Company's press release dated July 15, 2014.
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