Message #5 From:
Stock News Bot Date: July 17, 2006 07:00:00 AM
CBXC News Cimbix Corp. Enters into Exclusive World Wide License Agreement With Wataire Industries Inc.
BEVERLY HILLS, Calif.--(BUSINESS WIRE)--July 17, 2006--Cimbix Corp. ("CIMBIX" or the "Company") (OTCBB:CBXC), is pleased to announce that the Company has entered into an exclusive world wide license agreement with Wataire Industries Inc. ("Wataire") (Pink Sheets:WTAF) to market and distribute their Commercial Atmospheric Water Generators. The license agreement provides for a term of 5 years with an option to renew for another 5 years. This license agreement is contingent upon Wataire receiving 10,000,000 common shares of the Company. As part of the terms of the agreement, Wataire has the right to nominate up to five individuals to serve as members of the Board of Directors of the Company. Wataire will also furnish the Company with training, management expertise and other marketing related literatures and materials.
Wataire is a manufacturer of innovative drinking water treatment systems such as atmospheric water generators and filtration systems. It provides innovative water supply solutions that are especially suitable for areas that may have no alternative sources of potable drinking water. The atmospheric generator produces purified water from the atmosphere by using a special filtration system that removes dust, airborne particles, etc. to generate pure, safe drinking water, and at the same time, simultaneously cleans the air we breathe. This method of extracting water vapor has been in use for many years and generations. Wataire's atmospheric water generation products are presently in over 30 countries around the world.
Wataire was formed by a team of veteran executives with extensive experience in developing and bringing innovative products to market. The team is comprised of leaders and advisors who have extensive backgrounds in business administration, project management, manufacturing, international distribution, sales, and marketing. Wataire is committed to providing an array of innovative solutions that will help prevent fresh water shortages.
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1996. Forward-looking statements concerning plans, objectives, goals, strategies, future events of performance and underlying assumptions and other statements which are other than statements of historical facts. These statements are subject to uncertainties and risks including but not limited to, product and services demand and acceptance, changes in technology and in economic, political and regulatory conditions and to all of the risks generally associated with a company at Cimbix's stage of development. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company are expressly qualified by these cautionary statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
