Message #8 From:
NewsBot Date: September 13, 2006 02:00:00 AM
CBXC News Cimbix Corp. Enters into Second License Agreement with Wataire Industries Inc.
BEVERLY HILLS, Calif.--(BUSINESS WIRE)--Sept. 13, 2006--Cimbix Corp. ("Cimbix" or the "Company") (OTCBB:CBXC) announced today that the Company has entered into an exclusive worldwide license agreement with Wataire Industries Inc. ("Wataire") (Pink Sheets:WTAF) to market and distribute their home/office atmospheric water generator machines, their under the counter/over the counter units, and any future products from Wataire and a license for the Company to use Wataire's trade name and trademark. Under the terms of the agreement, the Company is also acquiring the rights to Wataire's existing, pending and future new contracts of home/office units. The license agreement provides for a term of five years with an option to renew for another five years. The Company will issue 1,000,000 shares of common stock to Wataire as payment in full for the license.
Previously, the Company entered into an exclusive worldwide license agreement with Wataire to market and distribute their commercial atmospheric water generator machines, including the CI-2500, CI-5000 and Water-producing Greenhouse, for the payment of 10,000,000 shares of the Company's common stock.
Pursuant to both agreements, Wataire will furnish the Company with training, ongoing technical support, management expertise and other marketing related literature and materials needed to exploit the innovative technology developed by Wataire.
The Company recently organized a wholly owned subsidiary, Wataire International Inc., a Nevada corporation, through which it will conduct all of its Wataire business.
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.
