Suffolk County Water Treatment System
Installation Complete
Company Announces Board Changes
SCOTTSDALE, AZ and CALGARY, AB, Dec. 16,
2014 /CNW/ - RDX Technologies Corporation ("RDX"
or the "Company") (TSXV: RDX, OTCQX: RGDEF, FSE:RL7), a water
treatment and energy technology company, today announced that it
expects to surpass $2 million in
revenues in its water division for the third quarter of fiscal
2015. In addition, the Company announced that it completed the
installation of a water treatment and mining system in Suffolk County, New York, which is now fully
operational.
Dennis M. Danzik stated "RDX
water revenues are back on a growth trajectory, as we successfully
refocused our business model—concentrating on high margin,
recurring revenue opportunities and licensing. This will mark the
first quarter we have surpassed $2
million from water treatment revenue and we are now seeing
our water treatment opportunities expand and grow at a manageable
rate. Growth in water treatment also equates to growth in overall
fuel sale revenue, as our access to raw materials that can be
refined into fuel increases in relation to RDX water treatment
installations. I also wish to personally congratulate our engineer
in charge of manufacturing, David
Bogardus, for his dedication in completing the Suffolk County installation. The Suffolk County opportunity is our largest
opportunity to date, with over 20 million gallons per day in
process. The Company will provide a full update on the project
during our upcoming conference call on January 8th."
The Company also announced a Board change with the departure of
Richard Carrigan, who has served on
the Board of RDX since January of 2012.
Dennis M. Danzik, Chief Executive
Officer of RDX, stated, "The Company wishes to thank Richard for
his service over the last few years. Our plan is to expand the
depth of the board by adding additional independent directors with
industry experience, customer relationships and capital markets
expertise. We look forward to announcing these appointments in
early 2015, which will also support our future plans to list on a
senior U.S. exchange."
The Company has prepared a video based Business Update which
is now available on its website at
www.rdxh2o.com.
Conference Call – The RDX Progress. Growth and
Profitability
The Company will host a business update conference call which
will provide more detail regarding the third quarter and
expectations for fiscal 2015, as well as upcoming RDX real estate
developments, a franchise update, and an energy sales update. The
call will be hosted by RDX CEO Dennis M.
Danzik and will feature several key RDX division management
speakers as well as operators, on Thursday,
January 8th at 10:00 a.m. Eastern
Time. The Company will provide dial in information
ahead of the scheduled call.
ON BEHALF OF THE BOARD OF DIRECTORS
"Dennis M. Danzik"
Dennis M. Danzik, CEO
danzikdirect@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