ZEOX Announces Update
16 Februar 2010 - 3:27PM
Marketwired
Mr. Garold R. Spindler, Chairman and CEO of ZEOX Corporation (The
"Company" or "ZEOX") (TSX VENTURE: ZOX) (FRANKFURT: ZED), is
pleased to update shareholders and the investment community on the
status of the contemplated acquisition of Imagin Minerals, Inc.
- Zeox is in discussions with Imagin and expects to reach a
Letter of Intent shortly. Zeox has established an Independent
Committee to negotiate on behalf of Zeox Corporation. The
Independent Committee consists of the current Board members, with
exception of Mr. Spindler.
- The Committee has engaged an independent firm to perform a
valuation and fairness opinion. The results, of which, will be
published in the Informational Circular.
- Both the Independent Committee and Zeox Management are
optimistic an agreement can be reached, that will provide financial
stability, a platform for growth and increased value for current
shareholders.
- Logician has agreed to vote in favor of the contemplated
merger between Imagin Minerals and Zeox Corporation subject to
various approvals by the TSX Venture Exchange (the "Exchange").
"While we are working hard to improve operations, Imagin
Minerals is a strategic fit which will allow Zeox to quickly
realize our growth potential. I am cognizant that shareholders are
anxious for more details. Additional information will be provided
to the extent legally possible. The process is moving and will
accelerate in next couple of weeks", stated Michael Shea, Chief
Financial Officer.
For a more complete business and financial profile of the
Company, management encourages interested parties to view the
Company's documents posted on www.sedar.com.
On behalf of the Board of Directors
Garold R. Spindler, Chairman and CEO
Legal Notice Regarding Forward Looking Statements: This news
release contains "forward-looking statements within the meaning of
applicable Canadian securities legislation. Forward-looking
statements are indicated expectations or intentions.
Forward-looking statements in this news release include that Zeox
can reach an agreement to acquire St. Cloud Minerals, that the
transaction will close and that the merged company will provide
financial stability, a platform for growth and increased value for
current shareholders. Factors that could cause actual results to be
materially different include that we may not be able to reach
agreement, shareholders or regulators may not approve of the
agreement even if our board does, and the resulting company may not
be successful at providing value to shareholders. Growth depends on
customer support and winning new customers, as well as market
conditions. Investors are cautioned against placing undue reliance
on forward-looking statements. It is not our policy to update
forward looking statements.
Neither the TSX Venture Exchange Inc. nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange Inc.) accepts responsibility for the adequacy or
accuracy of this press release.
Contacts: ZEOX Corporation Michael Shea Chief Financial Officer
(203) 210-5614 mshea@zeoxcorp.com
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