Le Lézard
Classified in: Business
Subjects: STOCK/OTHER MARKET NEWS, ANNUAL MEETINGS, SHAREHOLDER RIGHTS PLANS, SHAREHOLDER RIGHTS PLANS, SHAREHOLDER RIGHTS PLANS

Special Meeting Called by Concerned Shareholders of Robix Environmental Technologies, Inc.


CALGARY, Alberta, Nov. 27, 2018 (GLOBE NEWSWIRE) -- A special meeting (the "Meeting") of holders of common shares (the "Common Shares") of Robix Environmental Technologies, Inc. ("Robix") has been called for December 21, 2018. The Meeting has been called by certain concerned shareholders of Robix (the "Concerned Shareholders"). A Notice of Special Meeting, Information Circular and other Meeting materials are today being filed on Robix's SEDAR profile (at www.sedar.com) and disseminated to shareholders of Robix.

Robix's head office is located at #115, 1925 18 Avenue N.E., Calgary, Alberta T2E 7T8. Robix's Common Shares are listed on the Canadian Stock Exchange (CSE:RZX). However, the Common Shares are currently the subject of cease trade orders issued by the Alberta Securities Commission and other applicable provincial securities commissions by reason of Robix's failure to file continuous disclosure materials.

The Concerned Shareholders had previously submitted a requisition (the "Requisition") of a meeting of shareholders to Robix, which Robix did not respond to. The Concerned Shareholders have proceeded to call the Meeting and will be conducting a proxy solicitation in connection with the Meeting.

The Concerned Shareholders are filing a report under Form 62-103F1 (the "Early Warning Report") on Robix's SEDAR profile.

The Concerned Shareholders, their ownership or control of Common Shares of Robix, and their percentage ownership of outstanding Common Shares is as follows:

Cory Hlus ? 930,194 Common Shares representing 1.49%

Alan Kerr ? 1,000,000 Common Shares representing 1.60%

David Kushniruk ? 2,087,158 Common Shares representing 3.34%

Peter Lacey ? 947,000 Common Shares representing 1.52%

Rod Ross ? 535,000 Common Shares representing 0.86%

The address of each of the Concerned Shareholders is c/o Burstall LLP, 1600 The Dome Tower, 333 ? 7th Ave. S.W., Calgary Alberta, T2P 2Z1.

Two of the directors of the Corporation, Mark Bentsen and Dale Oleksyn, are supporting the Concerned Shareholders and will be actively involved in the solicitation process in relation to the Meeting. The purpose of the Requisition and the Meeting is to change the Board of Directors of the Corporation.

The Concerned Shareholders and Messrs. Bentsen and Oleksyn consider that they have an agreement, commitment or understanding to exercise jointly voting rights to the Common Shares under their respective ownership or control in respect of the pending Meeting. It may therefore be considered that the Concerned Shareholders and Messrs. Bentsen and Oleksyn are all "joint actors" in this regard. The Concerned Shareholders and Messrs. Bentsen and Oleksyn consider that this agreement, commitment or understanding, and the "joint actor" relationship occurred effective November 26, 2018, with the dissemination of the Notice of Special Meeting and Information Circular. The Information Circular discloses the proxy solicitation by the Concerned Shareholders, with the support of Messrs. Bentsen and Oleksyn, in relation to the pending Meeting.

Mr. Bentsen owns or controls 1,338,000 Common Shares, representing 2.14% of the outstanding Common Shares, and Mr. Oleksyn owns or controls 4,680,000 Common Shares, representing 7.50% of the outstanding Common Shares.

The Concerned Shareholders and Messrs. Bentsen and Oleksyn beneficially own or exercise control or direction over an aggregate of 11,517,352 Common Shares of the Corporation, representing 18.45% of the outstanding number of Common Shares.

There has been no trade in any Common Shares, and no transaction involving a change of ownership or control of Common Shares that has triggered the requirement to file the Early Warning Report. Instead, the Concerned Shareholders and Messrs. Bentsen and Oleksyn may be considered to have become "joint actors" effective November 26, 2018 for the reasons indicated herein. Their deemed joint ownership or control over Common Shares of Robix exceeds 10%, triggering the requirement to file the Early Warning Report.

A copy of this press release is being filed on Robix's SEDAR profile on www.sedar.com.


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