Las Vegas, NV (PRWEB) June 12, 2011
Scorpex, Inc. (SRPX.PK) (the “Company”) has signed a binding letter of intent to acquire Scorpex International, Inc. through a merger transaction with a subsidiary of the Company. Scorpex International will be the surviving subsidiary and its shareholders will receive shares of common stock of the Company. The closing date for this merger will be June 24, 2011.
Scorpex International, Inc., formerly known as Scorpion International Waste Solutions, Inc., is a development stage company in the hazardous and toxic waste industry. With its first facility located near Ensenada, Mexico, Scorpex International is developing its first property for the storage, recycling, treatment, and disposal of hazardous waste. It is awaiting permits from the local and national government, and has already developed significant infrastructure on the 26-acre property.
“Merging Scorpex International with the Company marks a historic event in the development of Scorpex. I am pleased with the progress that Scorpex International is making in this region of Mexico and the waste disposal industry. We view this merger as a great opportunity to expand our shareholder base and create value for our shareholders. Furthermore, Scorpex has the opportunity to make a real positive difference with the environment,” said Joseph Caywood, Chief Executive Officer. Mr. Caywood is the founder of Scorpex International and has developed the Ensenada, Mexico project for several years. His efforts have included overseeing construction, land acquisition, site development, permit applications, governmental relations, and submitting focused studies and reports by experts in this industry.
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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