NEW YORK, NY, Sep 29, 2010 (MARKETWIRE via COMTEX) -- Fox Petroleum, Inc. (PINKSHEETS: FXPT) announced today that it has signed a Share Exchange agreement with Resource Polymers of Hamilton, Ontario, Canada.
Resource Polymers Inc is involved in the processing and facilitating of plastic scrap compounds and has been recycling in various capacities for close to twenty-five years. With a focus on its proprietary wash line, Resource Polymers handles different waste streams including polyethylene terephthalate (PET water bottles), Agricultural scrap (polystyrene), low and high density polyethylene and other assorted plastic compounds. The company has a proprietary grinding and extrusion line and currently processes close to 250,000 pounds per month with expansion plans to move up very quickly to two million pounds per month.
Fox Petroleum, Inc. is focused on acquiring, developing and operating plastic recycling operations throughout North America, with a focus on plastic waste compounds and the aggregating of plastic scrap products for manufactures. Fox Petroleum's goal is to become an important partner for leading recycling companies who need proficient services.
These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
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