Lion RDXM .101x.104 on the news earlier.Radix Marine Signs Joint Marketing and Development Memorandum
f Understanding With Astrolabe Marine Group Ltd. ( PR
B: Radix Marine Signs Joint Marketing and Development Memorandum of Understandin
With Astrolabe Marine Group Ltd. ( PRNewswire-FirstCall )
SILVERDALE, Wash., Jan 21, 2004 /PRNewswire-FirstCall via COMTEX/ -- Radix
Marine, Inc. (OTC Bulletin Board: RDXM.OB), a marine vessel development company
specializing in port and homeland security and defense initiatives, today
announced that it has signed a memorandum of understanding with Astrolabe Marine
Group, Ltd, a Vancouver based, Canadian marine vessel development company, to
enter into a joint marketing and development agreement.
Under the terms of the memorandum of understanding, Radix Marine and Astrolabe
will enter into an agreement whereby they shall implement a program of joint
cooperation in each others' small vessel marketing, development, promotional,
training and sales efforts. Specific areas of cooperation contemplated by the
memorandum of understanding include the development of GB-11 Challenger and
GB-12 Challenger prototypes (eleven and twelve meter boats, respectively) and
bidding on an upcoming U.S. Government contract for the construction of utility
boats.
"We are very excited at the prospect of working with Astrolabe, especially
because of their established relationships in this industry," said Kathy Bright,
C.E.O. of Radix Marine. In February of 2004, representatives from Astrolabe will
travel to the Philippines to meet with civilian and military officials, with
whom the company previously met in Vancouver, and present the Challenger series
of patrol craft. The Philippine government has previously expressed an interest
in obtaining marine vessels that can be applied to the patrol efforts of its
Coast Guard and Police in the Straits of Malaca: Radix Marine believes that a
joint marketing and development program with Astrolabe can position the company
to meet this need.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements." In some cases, you can
identify forward-looking statements by terminology such as "may," "will,"
"should," "could," "expects," "plans," "intends," "anticipates," "believes,"
"estimates," "predicts," "potential" or "continue" or the negative of such terms
and other comparable terminology. These forward-looking statements include,
without limitation, statements about our market opportunity, our strategies,
competition, expected activities and expenditures as we pursue our business
plan, and the adequacy of our available cash resources. Although we believe that
the expectations reflected in the forward-looking statements are reasonable, we
cannot guarantee future results, levels of activity, performance or
achievements. Actual results may differ materially from the predictions
discussed in these forward-looking statements. The economic environment within
which we operate could materially affect our actual results. Additional factors
that could materially affect these forward-looking statements include, among
other things, (1) general economic and business conditions; (2) the success of
our restructuring; (3) our ability to raise additional capital through the
offering of equity or debt securities; (4) competition; (5) our ability to
continue to build strategic relationships within the marine industry,
particularly within the domestic and international high-speed USV market; (6)
required accounting changes; (7) our relationship with the U.S. Government; (8)
approval of our products by the U.S. Navy; (9) national security, including acts
of domestic and international terrorism, and (10) other factors over which we
have little or no control.
About Radix Marine
Headquartered in Silverdale, Wash., Radix Marine, Inc. specializes in port and
homeland security and defense initiatives within the marine industry. The
company's focus is on opportunities with the U.S. Navy, Coast Guard, and Marine
Corps, as well as the international markets, for Unmanned Surface Vehicles,
Challenger Class Patrol Craft, Unmanned Harbor Security Vehicles, and Commercial
Vessels. Radix Marine is publicly traded on the NASDAQ Over The Counter Bulletin
Board (OTCBB). For more information, please contact Radix Marine at 9119
Ridgetop Blvd., Suite 260, Silverdale, Wash. 98383; telephone: 360-692-6446;
fax: 360-692-0977, or visit the company's web site, radixmarine.com
SOURCE Radix Marine, Inc.
CONTACT: David Cochran of Cochran Edwards and Partners, mobile,
+1-206-251-7007, or dcochran@radixmarine.com, or Shareholder
nformation Line,
+1-360-692-6446, for Radix Marine, Inc.
URL: radixmarine.com
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