ZEOX's Palo, Saskatchewan Sodium Sulphate Mine and Processing Plant Opens
Monday December 8, 9:00 am ET
ca.us.biz.yahoo.com
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Dec 8, 2008 -- Mr. LuVerne E.W. Hogg, President and CEO of ZEOX Corporation (CDNX:ZOX.V - News)(Frankfurt:ZED.F - News), is pleased to announce the Company's subsidiary, Nanostructured Minerals Corporation ("NMC"), has commenced production of sodium suphate at the Palo, Saskatchewan site. ZEOX owns 49% of NMC, while the Company's partner and shareholder, Logician Minerals Limited of Hong Kong owns 51% of NMC. ZEOX Corporation is the managing and operating partner of NMC.
NMC signed a ten-year supply agreement estimated at a gross sales value of $75,000,000 on October 29th, 2008. The contract is with Canada's largest producer of potassium sulphate fertilizer also located in Saskatchewan. The principal ingredients in the manufacture of potassium sulphate are potash and sodium sulphate. The commercial grades of sodium sulphate at Palo are produced with purities of 98% to 99%.
NMC has upgraded the Palo mine and processing plant since it took ownership in September 2007. All environmental and operating permits have been received. Re-commissioning and operational processing trials were completed by the end of November. Additional personnel for plant processing operations were hired and initial production began December 1st, 2008. The first bulk truckloads of sodium sulphate are scheduled to be delivered mid-December 2008.
"We would like to thank our employees, contractors, suppliers, the community, and Saskatchewan's permitting agencies whose cooperation enabled the opening of the Palo operations within 14 months. We look forward to a long and profitable relationship," stated LuVerne Hogg.
For a more complete business and financial profile of the Company, management encourages interested parties to view the Company's documents posted on www.sedar.com.
On behalf of the Board of Directors
LuVerne E.W. Hogg, President & Chief Executive Officer
Legal Notice Regarding Forward Looking-Statements: This news release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are indicated expectations or intentions. Forward-looking statements in this news release include that we will sell $75,000,000 of sodium sulphate over the next 10 years to one customer; that the commercial grade sodium sulphate at Palo is produced with purities of 98% to 99%; and that the first bulk truckloads of sodium sulphate will be delivered mid-December; and that we will be able to continuously ship sodium sulphate. Factors that could cause actual results to be materially different include that our customer is not satisfied with product quality, price or service; that sodium sulphate markets or pricing may not develop or continue as anticipated or that productive capacity may not be large enough to handle market demand, that our production is less pure than anticipated and is either rejected or can only be sold at lower prices; and that various factors may prevent our shipping at any time including labour issues, availability of transportation, etc. Investors are cautioned against placing undue reliance on forward-looking statements. It is not our policy to update forward looking information.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contact:
Contacts:
ZEOX Corporation
LuVerne E.W. Hogg
1-877-767-0343
(250) 767-6134 (FAX)
Email: vhogg@ZEOXcorporation.com
ZEOX Corporation
Craig H. Bird
Investor Relations Contact
(215) 392-4981
Email: CHBird@segue.biz
Website: zeoxcorporation.com
Source: ZEOX Corporation |
