Business
Phoenix Metals Corporation: Change of Business and Financing Update
Vancouver, British Columbia--(Newsfile Corp. - September 27, 2017) - Phoenix Metals Corporati...
About this update from Homerun Resources Inc.
[{"type":"text","content":"Phoenix Metals Corporation: Change of Business and Financing UpdateVancouver, British Columbia--(Newsfile Corp. - September 27, 2017) - Phoenix Metals Corporation (TSXV: PHC.H) (\"Phoenix\" or the \"Company\") is pleased to announce the following updates regarding the change of business transaction (\"COB\") and financings, previously announced by the Company on August 29, 2017.Change of Business TransactionThe Company announces that it is advancing its COB through a series of transactions in the bioremediation sector. The early stage and fragmented state of the bioremediation industry presents a unique growth opportunity for the Company and its experienced personnel. The Company is continuing to build its solution, services and team and advance its business development discussions. In conjunction with the COB the Company will be changing its name to EnviroTek Remediation Inc.The Company has identified an industry-wide opportunity to bring open standards and develop advanced processes for more effective bioremediation. A comprehensive review of inputs, processes and equipment in the sector reflects the common strategy of incumbent players who hide their secrets in \"black-boxes\" that serve to reinforce the industry belief that bioremediation does not work. The Company's focus will be on the development of multiple products/solutions and processes for remediation that become standards that lead to credibility and facilitate market leadership. Through both internal research and the ongoing provision of bioremediation services the Company will be securing intellectual property and know-how. Historically, most of the revenues in the remediation sector have been generated through monitoring contamination versus the actual application of remediation solutions. The Company sees the reverse of this trend as an exceptional growth opportunity. The long-term plan is to develop a complete solution offering that can be marketed to environmental engineers and service providers in the remediation industry.The Company has secured the services of a talented team of experienced industry professionals to develop and execute its plan. Management Team & Business Development (subject to the Closing of the COB Transaction)The Company has sourced industry leading microbes, surfactants and equipment for the provision of hydrocarbon bioremediation s...