EDMOND, Okla., Jan. 10, 2011 (GLOBE NEWSWIRE) -- EnviroXtract, Inc. (Pink Sheets:EVXA) announces that it has signed a Memorandum of Understanding with Colten Energy, LLC to acquire a license for a proprietary technology that will enable the Company to extract gold, silver, and other precious metals from ore concentrates in gold and silver mines. This technology may also be used to perform environmental remediation such as the removal of heavy metals and toxic metals from contaminated soil.
The Company's CEO, Carlton Wingett, said this is the first of many steps the Company has planned to execute in its Business Strategy for 2011. "Our Board has spent the last six months developing our new 2011 Business Strategy. This new Business Strategy will include acquiring new technologies that have applications in the precious metals mining industry, as well as in environmental remediation," said Wingett.
Mr. Wingett explained that previously, EnviroXtract was mainly focused on environmental remediation. However, adaptive configurations of the Company's current technologies may also have mining applications. "Our current technologies allow us to extract oil from contaminated soil in a way that is more advanced than many other companies, which creates tremendous environmental remediation opportunities. But now, we are finding that, besides remediation applications, these technologies also could be used to generate revenues in the mining industry. With gold and silver prices setting global records and many experts predicting precious metals values to continue rising, EnviroXtract plans to rapidly become a serious player in this exciting industry," said Wingett.
This month, the Company's Board of Directors approved the expansion of the Company's 2011 Business Strategy to pursue new business opportunities in the Precious Metals Mining industry. The Company has agreed to acquire an applications license for a proprietary technology capable of efficiently removing gold, silver, and other precious metals from ore concentrates.
Dennis Atkins, the Company's CFO, believes the new Business Strategy will begin to generate revenue for the Company in the first and second quarters of 2011. "This is one of many steps we are taking to execute on our 2011 Business Strategy." "We have several remediation technology applications that are being tested in this quarter, and those technologies, along with the technologies we are acquiring, would be put to use in a number of upcoming business opportunities we have secured this first quarter," said Atkins.
Additionally, the Company is currently in the process of identifying and engaging industry professionals in the Precious Metals Mining Industry to strengthen its executive management team. The Company is also reviewing various opportunities, including the acquisition or lease of valuable gold and silver mining properties in which it can utilize its technologies to generate revenue for the Company.
About EnviroXtract, Inc.:
EnviroXtract, Inc. has acquired a license for an efficient technology intended to perform environmental remediation applications for oil spills and other toxic chemical remediation applications that require a complete separation of hazardous or toxic chemicals from contaminated soil. The technology has proven capable of removing up to 99.9% of oil from soil, is extremely energy efficient, leaves clean, dry tailings with no residual oil, requires no water, natural gas, fossil fuels, or chemicals during processing, discharges no pollutants, and is capable of capturing carbon emissions in a closed vacuum processing system.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of EnviroXtract, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
CONTACT: Carlton Wingett - President / CEO Email: Info@EnviroXtract.com Phone: 1-888-459-4889