MURRIETA, CA -- 08/21/07 --
CLX Investment Company, Inc. (OTCBB: CLXN)
today announced an initial agreement in the form of a letter of intent to
acquire the remaining issued and outstanding shares of Zonda, Incorporated,
which develops and manufactures unique diagnostic tests for both the
medical and non-medical markets. Once the remaining due diligence is
complete, the companies expect to reach a definitive agreement regarding
the acquisition.
Zonda's tests utilize proprietary technology that detects enzymes that are
specific to the target microorganisms. The Zonda medical diagnostic tests
are ideal for the clinical laboratory, point-of-care, and the
over-the-counter (OTC) markets.
Zonda's strong intellectual property position in enzymatic detection
technology will give the company a unique position in the clinical
diagnostic market where there is increasing need for simple, reliable, and
cost-effective rapid point-of-care diagnostic tests. The company's first
medical test, for Chlamydia, is expected to launch in the U.S. at the end
of the first quarter 2008. Zonda believes it will compete successfully with
all current technologies, including the "gold standard" nucleic acid
amplification testing (NAAT) technology, while offering several enhanced
features.
CLX recently acquired an additional 10% of the issued and outstanding
shares of Zonda, bringing its total equity position to 41%. Under terms of
the letter of intent, the result of the transaction is expected to result
in CLX acquiring the remaining 59% of Zonda.
"Zonda is an ideal acquisition candidate for CLX, and we look forward to
rapidly completing the due diligence process, so a definitive agreement can
be executed as soon as possible," stated Steven R. Peacock, consultant
chief executive officer of CLX Investment Company.
Zonda recently appointed Vera Leonard, who has considerable successful
experience in leadership positions with major medical manufacturing and
distribution companies, as its new chief executive officer.
"We expect that the combination of Zonda's innovative testing products and
strong, experienced leadership will allow the company to become a
significant player in the diagnostic testing industry. For these reasons,
we have targeted Zonda to become the focus of operations in CLX Investment
Company," added Mr. Peacock.
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About CLX Investment Company
CLX Investment Company (www.clxinvestments.com) holds a 41% equity interest
in Zonda, Inc. CLX has also invested, and holds a common stock position,
in ActionView International, Inc. (www.actionviewinternational.com), a
publicly traded global manufacturer and marketer of "smart" scrolling
advertising billboards.
All statements included in this release, including statements regarding
potential future plans and objectives of CLX Investments are
forward-looking statements. Such statements are necessarily subject to
risks and uncertainties, some of which are significant in scope and nature
beyond CLX Investments' control. There can be no assurance that such
statements will prove accurate. Actual results and future events could
differ materially from those anticipated in such statements depending on
many factors. Historical results are not necessarily indicative of future
performance.
Contact:
Gemini Financial Communications
A. Beyer
951-677-8073
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