RXT 110 INC. Announces Name Change to Biosenta Inc. and Cancellation of Additional Shares in Settlement of Litigation
TORONTO, May 31, 2012 /CNW/ – RXT 110 INC. (CNSX:RXT) (the “Company”) announced today that, pursuant to a special resolution
of shareholders passed at the Company’s annual and special meeting May
24, 2012 (the “Meeting”), the Company has filed articles of amendment
and changed its name to Biosenta Inc. Shareholders also approved the
Employee Stock Option Plan and the grant of options made thereunder at
the Meeting.
Additionally, the Company wishes to announce that a further 5,284,433
Class A Shares were received for cancellation and cancelled during May
2012 pursuant to the settlement agreement with Donald Meade, Rx110
Inc., Rx100 Inc. and certain other defendants in respect of litigation
commended by Company to recover certain of the shares issued pursuant
to an intellectual property license granted by Rx110 Inc. to the
Company. There remain 144,911 shares to be returned for cancellation
pursuant to the settlement agreement.
About RXT 110 Inc.
RXT 110 Inc.’s line of retail anti-microbial products will effectively
kill mould, bacteria and fungi on contact and prevent re-growth. These
products address the demand created by the mounting health and
environmental concerns. Mould can affect the immune system, nervous
system, liver, kidneys, blood and cause brain damage.
RXT will also manufacture and distribute RXT 110, anti-microbial
filler. Calcium Carbonate is one of the most common fillers used
industrially. It is susceptible like other fillers that hold moisture
to attracting mould. Annual global revenue in the calcium carbonate
filler industry approximates 140 billion dollars. RXT 110 Inc. will
produce anti-microbial filler that performs ‘filling’ and ‘bulking’
functions like calcium carbonate. RXT 110 does not attract moisture and
consequently mould infestation. RXT filler with its anti-microbial
high ph core in individual particles enhances commercial product
life and eradicates a broad spectrum of known bacteria, fungi, algae
and other micro – organisms by suppression of their reproduction.
Forward-Looking Information
This release may contain forward-looking statements information and
statements which constitute “forward-looking information” under
Canadian securities law and which may be material regarding, among
other things, the Company’s beliefs, plans, objectives, estimates,
intentions and expectations with respect to its capital and funding
plans. Inherent in the forward-looking information and statements are
known and unknown risks, uncertainties and other factors beyond the
Company’s ability to control or predict, which give rise to the
possibility that the Company’s predictions, forecasts, expectations or
conclusions will not prove to be accurate, that its assumptions may not
be correct and that the Company’s plans, objectives and statements will
not be achieved. Actual results or developments may differ materially
from those contemplated by the forward-looking information and
statements. Consequently, undue reliance should not placed on such
forward-looking statements.
On behalf of the Board of Directors of RXT 110 Inc.
Bruce Lewis
Chairman
The CNSX has in no way passed upon the merits of the proposed
transaction and has neither approved nor disapproved of the contents of
this press release. Neither the CNSX nor its Regulation Services
Provider (as such term is defined in the policies of the CNSX) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE RXT 110 Inc.
