Primix (CE) (USOTC:PMXX)
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Primix Corporation (Pink Sheets:PMXX) received notice from its Chinese
joint venture partner of the necessity to reorganize under Chinese law.
Qingdao Maple Leaf Environmental Technologies, Inc. (QMLET), Primix’s
joint venture company in Qingdao, China failed to meet certain financial
and reporting requirements. Although the previous joint venture is being
dissolved, we expect to continue our relationship in a similar form with
Yuan Qiang of Qingdao Yuantie Investment Management Inc. In the interim,
manufacturing of the PrimixTie in China can be continued through
Qingdao Yuantie Investment Management Inc.
Primix is continuing to pursue its sales prospects in India and South
America. Sample crossties were delivered to India from the Primix China
plant in June 2007. Additional samples are expected to be shipped to a
company in South America in the near future.
This press release contains forward-looking statements identified by
words such as "believe," "expect," "anticipates" and similar
expressions. Actual results might differ materially from those projected
in, expressed in or implied by the forward-looking statements. Primix
Corporation cautions investors not to place undue reliance on
forward-looking statements, which speak only as to management's
expectations on this date. Some paragraphs of this press release,
particularly those describing Primix's strategies, operating expenses
reductions and business plans, contain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1993, as amended and
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. While Primix is working to achieve
those goals, actual results could differ materially from those projected
in the forward-looking statements as a result of a number of factors,
including difficulties in marketing its products and services, need for
capital, competition from other companies and other actors, any of which
could have an adverse effect on the business plans of Primix, its
reputation in the industry or its expected financial return from
operations. Factors such as these could have an adverse effect on
Primix's results of operations. In light of significant uncertainties
not included in the forward-looking statements herein, the inclusion of
such information should not be regarded as a representation by Primix
that it will be achieved.