VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 25, 2009) - Mr. Garold R. Spindler, Chairman and CEO of ZEOX Corporation (The "Company" or "ZEOX") (TSX VENTURE:ZOX)(FRANKFURT:ZED), has arranged a non-brokered private placement for up to 14,500,000 units for gross proceeds of up to $2,500,000.
Each Unit will be priced at $0.1725 and consist of one common share of the Company and one warrant entitling the holder to acquire one additional common share for a period of one year from closing at the exercise price of $.2725. Finder's fees will be paid in accordance with TSX Venture Exchange policy.
The proceeds of the financing will be used to fund working capital requirements and improvements at the Company's Ash Meadows and Bowie mines. The resulting capitalization combined with new strategies to deliver earnings will be adequate to support growth.
The private placement is subject to TSX Venture Exchange approval.
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 close a private placement of up to $2,500,000 and that the resulting capitalization combined with new strategies to deliver earnings will be adequate to support growth. Factors that could cause actual results to be materially different include that we may not be able to raise sufficient capital to accomplish our intentions and that even if we do close the maximum private placement, capital alone may not be sufficient for us to grow our business. 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
ZEOX Corporation Michael Shea (203) 210-5614 (203) 210-5763 (FAX) mshea@zeoxcorp.com www.zeoxcorporation.com
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.
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