Business
VIBE I ("OTC PINK: VIBE") Acquires Technology to Treat Oil Field Waste Water
VIBE I ("OTC PINK: VIBE") Acquires Technology to Treat Oil Field Waste Water.
About this update from Nugl, Inc.
[{"type":"text","content":"\nVIBE I (\"OTC PINK: VIBE\") Acquires Technology to Treat Oil Field Waste Water \n\nVIBE I (\"OTC PINK: VIBE\") Acquires Technology to Treat Oil Field Waste Water\n\n ABILENE, TX--(Marketwired - September 17, 2015) - VIBE I, Inc., (OTC PINK: VIBE), is pleased to announce that it has entered into a \"Purchase and Sale of Assets Agreement,\" with the Shareholders of Sandbox Resource Solutions, LLC (\"Shareholders of Sandbox\") and Sandbox, Inc. The Agreement, effective August 7, 2015, provides that VIBE will purchase 100% of the assets of Sandbox in exchange for 12,000,000 shares of VIBE restricted common stock. On April 8, 2015, VIBE entered into a reorganization agreement with New Vibe, Inc., but both companies mutually determined the business combination was not in the best interest of either corporation's or their shareholders and allowed the agreement to expire. Chris Tesarski, Executive Chairman and CEO of VIBE, stated, \"We are very pleased to announce the culmination of significant work to create an exciting, dynamic and necessary new public company.\" About Sandbox Resource Solutions: Sandbox Resources Solutions \"SRS\" has developed the Resource Management System, \"RMS\" which is engineered to remove oil, solids, iron sulphides, hydrocarbons more efficient and cost effective than traditional methods. SRS is applying a patented proprietary technology to treat produced oilfield waste water into useable, fresh water. (http://sandboxresourcesolutions.com/) The company's focus is to deliver produced fresh water and subsequent by-products from its processes which will be suitable for commercial, industrial and agriculture sustainability while reducing the strain on our natural resources. Our Resource Management Systems are manufactured using North American parts and technology. Mobile or on-site solution Scalable starting from 800bbl/day or 128m3 Reduces fresh water demand Substantial cost savings Reduces truck traffic Environmentally constructive Chris Tesarski also states, \"We were saving companies money when prices were high. Our efficiency and economics made us a positive impact to company bottom line. With the recent correction in pricing we are poised to help companies ensure that lower pricing environment can still spell profitability. We do energy differently, turning oilfield waste into our most precious resource.....