SCOTTSDALE, AZ and CALGARY, AB, Nov. 13,
2014 /PRNewswire/ - RDX Technologies Corporation
("RDX" or the "Company") (TSXV: RDX, OTCQX: RGDEF, FSE:RL7), a
water treatment and energy technology company, today announces the
formation of a new U.S. based corporation, managerial
promotions, and that Hank Habicht
will join the Company as advisor to the Board of Directors.
RDX has started the process of forming a separate corporation
and completing the necessary legal filings to begin trading in
the United States ("U.S. Trading
Entity"). The new U.S. Trading Entity will be based solely in
the United States to attract
primary contracts in the water treatment and energy sectors that
cannot be successfully financed within RDX Technologies Corporation
which is based and traded on the Toronto Venture Exchange. The new
U.S. based entity will grant proportional shares to all current
Company shareholders under a new capital structure plan ("Plan")
now being completed at the Company's corporate headquarters in
Scottsdale, Arizona. The Plan will
be presented on the RDX Technologies Corporation website on
December 2, 2014.
The purpose of the U.S. Trading Entity is to directly list on a
stock exchange in the United
States in order to comply with U.S. securities laws as well
as open financial participation to the larger market and investor
pool, including larger institutional investors, based in the U.S.,
while increasing shareholder value for all current shareholders of
RDX Technologies Corporation.
In addition, the Company announces two financial management
promotions. Kevin Bridges has been
named Chief Financial Officer for the new U.S. Trading Entity. Mr.
Bridges has resigned his position as CFO of RDX. Mr. Bridges' new
role will include forming, structuring and holding senior charge of
all financial and legal filings required for the new U.S. Trading
Entity that is targeted to begin trading late in the first calendar
quarter of 2015. Mr. Bridges' new expanded role will also include
the formation and development of RDX Europe beginning in December
of this year.
Candy Blazar has been named Chief
Financial Officer of RDX Technologies Corporation, pending the
filing of a personal information form and approval of the exchange.
Ms. Blazar has served as Business Manager / Controller of RDX
refinery operations and has been with the Company for approximately
two and a half years. Ms. Blazar originally held the position of
Controller at the Carthage refinery. Candy will be relocating to
Scottsdale, Arizona. Ms. Blazar
holds a Bachelor of Science in Business Administration, Missouri
Southern State University, and a Master of Business Administration,
Missouri State University. Ms. Blazar has extensive accounting and
controller experience, holding senior positions in engineering,
refining and manufacturing companies.
RDX is also proud to announce the addition of Hank Habicht as advisor to the Board of
Directors starting December
1st, 2014.
Hank joined Sail Capital ("SAIL") in January 2006 as a pioneering figure in
environmental business and government policy and a successful
investor in environmental innovation. SAIL invests in
breakthrough water and energy technologies, including M2Renewables,
now part of the RDX portfolio of solutions.
His career has included leadership positions at the U.S.
Department of Justice as Assistant Attorney General of the United States, in charge of the
Environment and Natural Resources Division, and at the U.S. EPA as
COO (Deputy Administrator). At the EPA he oversaw the development
of new air and water programs to prevent pollution, including the
development of the Energy Star program and implementation of
market-based trading programs under the 1990 Clean Air Act
amendments.
In business, Hank served as Senior VP in charge of acquisitions
and other divisions of Safety-Kleen, a billion-dollar environmental
service company. He has also held positions and started ventures in
the for-profit environmental arena, including VP of William D.
Ruckelshaus Associates.
Hank has held numerous Board seats over the years, and currently
sits on the Boards of SAIL companies WaterHealth International and
Xtreme Power, and is a Co-Founder of the American Council of
Renewable Energy. He is a Commissioner of the National Commission
on Energy Policy, a member of the Board of Directors of the World
Environment Center, and has advised several Cabinet Secretaries. He
is on the Advisory Board to the National Renewable Energy Lab and
the Pacific Northwest National Lab. In 1991 the EPA awarded him
with the esteemed Total Quality Leadership Award and in 2009 he
received the national Richard Mellon
Award for Environmental Stewardship. Hank holds a B.A. with High
Honors from Princeton University and a
J.D. from the University of
Virginia.
Hank Habicht commented, "I can
see that RDX is developing a strong value proposition related to
both the water and energy markets. I am excited for the chance to
help Dennis Danzik and his team
deploy RDX technology solutions for maximum impact."
Dennis M. Danzik, RDX CEO stated,
"After almost six months of rebuilding RDX refinery structures and
investing in expanded manufacturing capabilities, RDX will now
enter a phase where revenue growth can be accelerated. The Company
is also expecting its fuel blending license to be issued within the
next several days, allowing RDX to enter the transportation fuel
market. In addition, the Company will be actively recruiting board
candidates for it's new structure. Once the Plan is approved, the
business can seek investor support in a much larger marketplace and
on an exchange that better fits the business model of RDX."
ON BEHALF OF THE BOARD OF DIRECTORS
"Dennis M. Danzik"
Dennis M. Danzik, CEO
(602)357-8020
danzik@rdxh2o.com
"Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release. This news release may contain
forward-looking statements. Forward-looking statements address
future events and conditions and therefore, involve inherent risks
and uncertainties. Actual results may differ materially from those
currently anticipated in such statements. Such information is
subject to known and unknown risks, uncertainties and other factors
that could influence actual results or events and cause actual
results or events to differ materially from those stated,
anticipated or implied in the forward-looking information. Readers
are cautioned not to place undue reliance on forward-looking
information, as no assurances can be given as to future results,
levels of activity or achievements."
SOURCE RDX Technologies Corporation
