TEMECULA, Calif., Nov. 15, 2004 (PRIMEZONE) -- CLX Investment Company, Inc. (OTCBB:CLXN) today announced that the Company has identified the first potential investments for its portfolio and expects to have initial agreements for a number of acquisitions, all with positive cash flow and substantial upside, in the coming weeks and months.
"We are pleased to have identified what we believe will be our initial acquisitions and look forward to announcing Letters of Intent in the near future. These investments will be in companies that are well positioned to grow and bring value to the CLX shareholders. Our recently announced $5 million financing commitment is expected to provide our near term investments with the capital necessary to maximize their potential and fulfill their business plans," commented Shane H. Traveller, Chief Executive Officer of the Company.
CLX Investments has received a $5 million equity financing commitment arranged through Compass Capital Group, a New York-based private investment firm, which will provide the financing required for the acquisition of revenue-generating companies for the CLX Investment portfolio.
About the Company
CLX Investment Company elected to be regulated as a Business Development Company pursuant to Section 54 of the Investment Company Act of 1940 on September 13, 2004 and is pursuing a business plan wherein the Company will seek to acquire and invest in developing companies.
All statements included in this release, including statements regarding potential future plans and objectives of CLX Energy are forward-looking statements. Such statements are necessarily subject to risks and uncertainties, some of which are significant in scope and nature beyond CLX Energy's control. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Actual results may differ materially depending on many factors. CLX Energy cautions that historical results are not necessarily indicative of the future performance.