Scorpex Receives Multiple Financing Commitments for up to $35 Million
August 15 2011 - 4:05PM
Marketwired
Scorpex, Inc. (PINKSHEETS: SRPX) (the "Company"), an emerging
leader of industrial, hazardous and toxic waste disposal services
in the Baja Mexico/California region, is pleased to announce today
that it has received financing commitments from two different
sources for up to $35 million USD; contingent on the issuance of
necessary permits that are anticipated to be granted to the Company
in the near future.
Chief Executive Officer Joseph Caywood stated, "Unlike many
other businesses who are struggling to finance operations, we have
had no difficulty securing sufficient financing commitments. Having
these commitments in hand within such a short time of signing the
equipment agreement with IET demonstrates our ability to secure the
financing necessary to continue executing our business plan."
"We have been very pleased with the warm reception exhibited by
these lenders," Mr. Caywood continued. "The financing will enable
accelerated growth of the Company and the ability to achieve
milestones sooner than expected, which will subsequently have a
dramatic positive effect on shareholder value."
"As a result of the insatiable demand for local waste disposal
and the diverse clientele driving the market, our company is in a
highly enviable position to secure abundant financing at very
favorable terms. In addition to the substantial commitments
mentioned above, we anticipate hearing from several others who may
also desire to provide us with competitive low-cost financing," he
concluded.
About Scorpex, Inc.
Scorpex, Inc. is taking the necessary steps to own and operate a
full service waste disposal and recycling company, capable of
storing and disposing all types of waste, including those
classified as industrial, toxic, and hazardous. The location chosen
for the first Scorpex plant is strategically positioned to
accommodate the vast region of Baja California, Mexico.
For more information, visit www.scorpex.com
About MissionIR
MissionIR is committed to connecting the investment community
with companies that have great potential and a strong dedication to
building shareholder value. Through a full suite of investor
relations and consultancy services, we help public companies
develop and execute a strategic investor awareness plan as we've
done for hundreds of others. Whether it is capital raising,
increasing awareness among the financial community, or enhancing
corporate communications, we offer a variety of solutions to meet
the objectives of our clients.
For more information on Scorpex, Inc., visit
http://SRPX.MissionIR.com
This press release may contain certain forward-looking
statements regarding future circumstances. These forward-looking
statements are based upon the Company's current expectations and
assumptions and are subject to various risks and uncertainties that
could cause actual results to differ materially from those
contemplated in such forward-looking statements. Actual results,
events, and performance may differ. Readers are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as to the date hereof. The Company undertakes no
obligation to release publicly any revisions to these
forward-looking statements that may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. The inclusion of any statement in this
release does not constitute an admission by the Company or any
other person that the events or circumstances described in such
statements are material.
Contact: Investor Relations J.R. Munoz 310-891-1838
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