Scorpex Receives Second $90M Equipment Financing Commitment
February 13 2012 - 5:04PM
Business Wire
Scorpex, Inc. (Pinksheets: SRPX) - an emerging leader of
industrial, hazardous and toxic waste disposal services in the Baja
Mexico/California region – announced today a $90 million financing
commitment from The Helping Hands Foundation for Habitat and
Humanity (“HHFHH”). HHFHH, located at Cerrada de Explanada 525,
Lomas de Chapultepec, Mexico City, 11000, Mexico, works in close
collaboration with the federal and state governments in Mexico and
private corporations toward the fulfillment of the United Nations
Millennium Development Goals by providing investment and loans for
qualified projects.
The commitment is for the financing of waste
gasification/thermal oxidation equipment at Scorpex’s previously
announced site in Ensenada, Mexico. The financing is linked to the
recent purchase contract signed with International Environmental
Technologies, Inc.
“We continue to gain relationships like HHFHH to pursue our
corporate goals,” according to Scorpex Chief Executive Officer
Joseph Caywood. “We anticipate being able to provide our
shareholders further information about the terms of financing,
permit approvals and other exciting developments during this first
quarter. The next two months are extremely important for our
expansion efforts on our initial site and our growth plan into
other regions of Mexico.”
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
Forward Looking Statements
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.
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