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Scorpex Receives Second $90M Equipment Financing Commitment.

LAS VEGAS -- Scorpex, Inc. (Pinksheets: SRPX) - an emerging leader of industrial, hazardous and toxic waste disposal services in the Baja Mexico/California region - announced today a $90 million financing commitment from The Helping Hands Foundation for Habitat and Humanity ("HHFHH"). HHFHH, located at Cerrada de Explanada 525, Lomas de Chapultepec, Mexico City, 11000, Mexico, works in close collaboration with the federal and state governments in Mexico and private corporations toward the fulfillment of the United Nations Millennium Development Goals by providing investment and loans for qualified projects.

The commitment is for the financing of waste gasification/thermal oxidation equipment at Scorpex's previously announced site in Ensenada, Mexico. The financing is linked to the recent purchase contract signed with International Environmental Technologies, Inc.

"We continue to gain relationships like HHFHH to pursue our corporate goals," according to Scorpex Chief Executive Officer Joseph Caywood. "We anticipate being able to provide our shareholders further information about the terms of financing, permit approvals and other exciting developments during this first quarter. The next two months are extremely important for our expansion efforts on our initial site and our growth plan into other regions of Mexico."

About Scorpex, Inc.

Scorpex, Inc. is taking the necessary steps to own and operate a full-service waste disposal and recycling company, capable of storing and disposing all types of waste, including those classified as industrial, toxic and hazardous. The location chosen for the first Scorpex plant is strategically positioned to accommodate the vast region of Baja California, Mexico.

For more information, visit www.scorpex.com

Forward Looking Statements

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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Publication:Business Wire
Geographic Code:1U8NV
Date:Feb 13, 2012
Words:448
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