Scorpex Inc. (SRPX.PK) a Nevada corporation is focused on becoming a leader of hazardous and toxic waste disposal in the Baja Mexico/California region where demand for waste management exceeds capacity. Scorpex and its subsidiaries have been granted certain Mexican governmental permits and licenses that will allow them to develop and dispose of toxic and nontoxic waste originating from the United States and Mexico.
As of June 1, 2010, Scorpex acquired 100% of the issued and outstanding securities of Scorpex International, Inc. which has an exclusive license agreement with its partner Tratamientos Ambientales Scorpion, a Mexican corporation (“TAS”). Scorpex, through TAS has applied to obtain the necessary governmental approvals to store, gasify, recycle and dispose of residential and commercial, toxic, non-toxic, hazardous and non-hazardous waste.
It has taken eight years, and Scorpex has met many various governmental regulatory guidelines, feasibility studies, and has worked hand in hand with government officials on key issues pertaining to zoning, road studies, environmental guidelines, land issues, health issues, and employment issues. Recently Scorpex has been granted all permits, Federal, State and Local that now allows phase II of it’s business model to be implemented which is to immediately start building a patented waste gasification plant, expected to be finalized in 2012. Funding for the plant is estimated in the amount of $35 million USD, which has already been committed and will begin during Q4 2011. As a result of these efforts, Scorpex will have the only industrial waste processing facility of its kind in Baja Mexico.
February 13 - Scorpex Receives Second $90M Equipment Financing Commitment
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.
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Forward-Looking Statement: This press release includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.
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