Agronix, Inc. Signs Licensing Agreement for Caricom Region; Company Sets Foundation for International Revenue Streams.Business Editors/Environment Writers LOS ANGELES--(BUSINESS WIRE)--May 27, 2003 Agronix, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AGNI) is pleased to announce the signing of a Licensing Agreement with Agronix Caricom Inc. Ltd. Pursuant to an agreement entered into by Agronix, Inc. and Agronix Caricom Inc. Ltd., Agronix will transfer technology and the exclusive licensing rights to build plants in Antigua, Barbuda, Barbados, Belize, Dominica, Grenada, Guyana, Haiti, Jamaica, Montserrat, Saint Lucia Saint Lucia (sānt l  `shə, –sēə), island nation (2005 est. pop. 166,000), 238 sq mi (616 sq km), West Indies, one of the Windward Islands. The capital is Castries. , St. Kits, Nevis, Saint Vincent, The Grenadines Grenadines: see Grenada; Saint Vincent and the Grenadines; Windward Islands. , Suriname, Trinidad & Tobago. Under the terms of the agreement, Agronix Caricom Inc. Ltd. will pay Agronix, Inc. USD USDIn currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $2,500,000 by August 28, 2003. In exchange for 25% of Agronix Caricom Inc. Ltd. (non-dilutable shares) received by Agronix Inc., Agronix Caricom Inc. Ltd. will receive a USD$2,250,000 investment from Agronix, Inc. to be used to build the territory's first BCR BCR B Cell Receptor BCR Business Communications Review (magazine) BCR Banca Comerciala Romana (Romanian bank) BCR Breakpoint Cluster Region BCR Benefit/Cost Ratio BCR Bay City Rollers plant. Other terms of the agreement require that Agronix Caricom Inc. Ltd. provide the financing and meet various criteria for building and operating each plant. Furthermore, Agronix Caricom Inc. Ltd. will pay Agronix Inc. a license fee of $250,000 for each plant, along with royalties on revenues received from each plant. "We're especially excited about signing this Technology Transfer Agreement, because it furthers Agronix's global roll-out strategy. We are looking forward to working closely with the Agronix Caricom Inc. Ltd. management team and expect that our technologies will be quickly adopted within this region, where there is increasing environmental, social and legislative pressure to deal with organic wastes," said Brian Hauff, the Company's President. Ashley Cooper This page is about the tennis player. For the New Zealand singer see Ashley Cooper (singer). Ashley John Cooper AO (born September 15, 1936 in Melbourne, Victoria) is a former tennis player from Australia, who was World No. 1 amateur in the late 1950s. , Managing Director of Agronix Caricom Inc. Ltd., added, "Jamaica will lead the Caricom region with Agronix technologies in recognizing and managing the problems caused by organic waste streams. Our group has had extremely positive responses from all stakeholders, including the government, industry and the private sector. We have already identified several prime sites to pursue for the Agronix technologies." About Agronix Agronix is a world leader in innovative organic waste management technology. The Company's BCR System converts organic waste materials (animal manure, sewage sludge, bio-solids, and industrial food processing Food processing is the set of methods and techniques used to transform raw ingredients into food for consumption by humans or animals. The food processing industry utilises these processes. waste, etc.) into agricultural products such as organic fertilizers and soil amendments. The Company is also engaged in the business of developing their BCIR BCIR Barnett Continent Intestinal Reservoir (South Point Hospital) System technology that is used to recover chemical commodities from organic waste for a wide variety of industries, including agriculture, food, oil and gas, paper, clothing and pharmaceuticals. Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. |
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