EDMOND, Okla., Jan. 27, 2010 (GLOBE NEWSWIRE) -- EnviroXtract, Inc. (Pink Sheets:EVXA) announced today that it has entered into negotiations to acquire significant additional assets including intellectual properties, licenses, equipment and capital. Certain assets and acquisitions are being reviewed for an initial infusion into EnviroXtract, including approximately $1.1 million in equipment and a license for Canadian oil sands extraction and upgrading. Concurrent with these acquisitions, the Company is also developing a plan to become a fully-reporting company and return to the OTCBB.
About EnviroXtract, Inc.:
EnviroXtract, Inc. has developed an efficient technology to perform environmental remediation applications for oil spills and other toxic chemical remediation applications which require a complete separation of hazardous or toxic chemicals from contaminated soil. The technology has proven capable of removing virtually 100% of oil from soil, is extremely energy efficient, leaves clean, dry tailings with no residual oil, requires no water, natural gas, fossil fuels, or chemicals during processing, discharges no pollutants, and is capable of capturing carbon emissions in a closed vacuum processing system.
EnviroXtract will implement an aggressive schedule of testing its proprietary thermal process for extraction of various hazardous and toxic materials from soil samples. The Environmental Protection Agency (EPA) maintains a Toxic Release Inventory of 581 individually listed chemicals and 30 chemical categories which require removal and mitigation under federal regulations. Independent third-party analysis and verification will measure the effectiveness of the EnviroXtract thermal process in removing many of these toxic chemicals from soil samples. The results of these tests and subsequent analysis will be updated regularly on the EnviroXtract website, www.EnviroXtract.com. EnviroXtract plans to explore additional environmental remediation applications to enhance its business model.
Safe Harbor
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of EnviroXtract, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.