Scorpex Receives a $90 Million Equipment Financing Letter of Intent
19 December 2011 - 7:34AM
Business Wire
Scorpex, Inc. (Pinksheets: SRPX) (the "Company"), an emerging
leader of industrial, hazardous and toxic waste disposal services
in the Baja Mexico/California region, has received an executed
financing letter of intent from International Environmental
Technologies, Inc. (“IET”) for the financing of its waste
gasification/thermal oxidation equipment and licenses currently
under contract with Scorpex. IET has represented that multiple
sources are interested in financing the equipment it plans to
install at the Company’s initial site near Ensenada, Mexico.
Chief Executive Officer Joseph Caywood stated, “IET has
continued to be a very strong partner in satisfying our debt
equipment financing needs. Increasing the size of our initial
equipment contract allows Scorpex the ability to start stronger
with more sources of waste supplies. Furthermore, the access to
larger equipment financing will allow us to build on the site as
soon as possible. I anticipate being able to announce more specific
details regarding the debt financing terms and conditions in the
coming weeks.”
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.
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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