TXMC Tirex Corporation (CE)

The Tirex Corporation (Pink Sheets:TXMC), owner of a patented tire recycling technology, the TCS System, recently raised its authorized common shares from 1.5 billion to 2 billion.

“Management intends to use part of this increase to satisfy certain liabilities, such as compensation to legal counsel, auditors, agents, consultants, employees and for working capital to further our business activities,” according to President John L. Threshie, Jr.

“We expect to be current in our financial reporting very soon as a direct result of this increase,” Threshie said. “It will also allow us to engage a North American scrap tire recycling consulting organization committed to assisting us in marketing our technology in the U.S.,” he pointed out.

Tirex's manufacturing partner, Simpro S.p.A. of Torino, Italy, recently reported “significant interest in the TCS System specifically in two European markets and anticipates a definitive commitment imminently.”

Simpro also relayed to the Tirex Board of Directors its frustration with the previously announced Memorandum of Understanding between Simpro and the Malaysian company, Enchantex Solutions SDN, BHD. While Simpro insists that the project is still feasible, the complexity of the relationships with the other groups within the industrial complex has hindered its progress well beyond the originally scheduled date.

Simpro also reported to the Board that the parts being manufactured for the “fracturing mill” (the patented part of the TCS System) are on hold at approximately 75% of completion until Simpro has a deposit to begin manufacturing the first commercial system.

ABOUT SIMPRO

Simpro is licensed by Tirex to manufacture, install, commission and warrant turnkey TCS facilities and offer a performance bond guarantee. For more information go to: http://www.simpro.it/home.php?argid=49&pagid=18&lang=en

ABOUT TIREX

Tirex’s TCS (Tirex Cryo System) process freezes scrap tire pieces with cold air – as opposed to expensive liquid nitrogen – and then “breaks” the rubber into granules in a patented “fracturing mill,” instead of cutting and shredding it. This process also separates the marketable strands of steel and fiber from the frozen ground rubber with an environmentally friendly, economically attractive, “green” tire recycling system. For more information go to: www.tirex-tcs.com

(The statements which are not historical facts contained in this news release are forward-looking statements that involve certain risks and uncertainties including, but not limited to, risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission.)

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