2010-10-28 16:28 ET - News Release
Mr. David Thom reports
ZEOX CORPORATION ANNOUNCES CLOSING OF PRIVATE PLACEMENT
Zeox Corp. has closed its previously announced financing in the amount of $276,573.26. A finder's fee of $5,000 was paid in relation to a portion of the financing.
In order to simplify the financing, the placement was changed to a unit financing at five cents per unit, with each unit consisting of one share and one-half warrant. Each full warrant, together with payment of five cents, would entitle the holder to one share of Zeox for a period ending on the earlier of:
* Sept. 1, 2011;
* Twenty days notice from the corporation that Zeox has completed an equity financing of $1-million at 10 cents per share or more;
* Twenty days notice from the corporation that the closing price or closing bid paid of Zeox shares at or above 25 cents for five consecutive
trading days.
The net proceeds of the offering will be used by Zeox for general working capital and for anticipated legal costs in accordance with the legal remedies being pursued by Zeox as set out in the press release of Aug. 3, 2010, in Stockwatch. Management of Zeox has instructed its legal counsel in Arizona to proceed in this regard.
We seek Safe Harbor.
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