VANCOUVER, BC / ACCESSWIRE / May 31, 2017 / Zeolite Corp. (the "Company") (TSX.V: CNZ) (OTCQB: CNZCF) (FSE: ZEON) is pleased to announce the signing of a Non-Binding Letter of Intent (LOI) to acquire 100% of a manufacturer and distributor of zeolite products based in the United States.
The target company has a state of the art, GMP (good manufacturing practice) certified research and development lab in Arizona where it develops its product formulations and manufactures product lines. The facility can accommodate bulk zeolite warehousing and distribution of manufactured zeolite products into the U.S market. The company is focused on creating nutraceutical products for human use, as well as enhanced fertilizers and water filtration systems. The target company CEO stated, "The ability to partner with a company that has 100% natural Canadian zeolite is a tremendous opportunity for us. We have tested the Bromley Creek zeolite and test results have far exceeded our expectations."
Mr. Ray Paquette, CEO of Canadian Zeolite stated, "We are currently conducting our advanced due diligence and assessing how the target company will complement our existing operations. The ability for us to enter the U.S market with products infused with our natural zeolite is very exciting and will add immense shareholder value."
At the time of signing of the non-binding LOI, terms had not been discussed. The Company anticipates providing additional information regarding the transaction in the coming weeks.
On behalf of the Board of Directors
"Ray Paquette"
President & CEO
604.684.3301
www.canadianzeolite.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated work programs and the timing and amount of expenditures. Canadian Zeolite does not assume the obligation to update any forward-looking statement.
SOURCE: Canadian Zeolite Corp.