TORONTO, ONTARIO--(Marketwire - Aug. 16, 2011) - RXT 110 INC. (CNSX:RXT) (the "Company") announced today that the board of directors has adopted a "rolling" employee stock option plan pursuant to which the Company may issue options to eligible employees, officers, directors and consultants to purchase up to 10% of the Class A Shares in the Company. The board of directors of the Company has also conditionally approved the grant of 1,750,000 options under the Option Plan, exercisable, subject to vesting, at any time during the period of five years from the date of the grant at an exercise price of $0.20 per optioned share. Such options vest 25% on the date of the grant and in equal installments on the next three anniversaries of the grant date. The Option Plan and grant of options thereunder is subject to regulatory approval and approval of the shareholders of the Company which will be sought at the next meeting of shareholders.
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, an 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 mold. 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 mold 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.
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.