SINX News .077 Sionix Corporation Announces the
Post# of 144491
SINX News .077
Sionix Corporation Announces the Formation of Additional LLCs for Operation in the Williston Basin
2012-06-11 09:35 ET - News Release
LOS ANGELES, CA -- (Marketwire) -- 06/11/12
Sionix Corporation (OTCBB: SINX) announced today the formation of four additional Williston Basin LLCs ("WBIII" through "WBVI"), Nevada limited liability companies, as affiliate companies to the previously announced Williston Basin I LLC ("WBI") and Williston Basin II LLC (WBII).
Subscription documents representing a 35% membership interest in LLCs II through VI have been received from REVH2O LLC ("REVH2O"), a diversified fluids management and services company serving the O&G industry primarily in Pennsylvania. REVH2O holds a minority membership interest in WBI and is a long-time shareholder in Sionix.
Sionix will retain a 65% interest in each newly formed LLC. Upon completion of certain performance conditions by WBI, these subscriptions will be fully funded and converted to membership interests, representing cash infusion of approximately $7,500,000.
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