Robix Announces Letter of Intent for Proposed Business Combination Appointment of New Chief Operating Officer and Grant of Options - Seite 2

The proposed Transaction is subject to a number of conditions including, but not limited to: (1) approval of the Transaction by the board of directors of Robix and Formation Fluid and any requisite shareholder approval, and (2) approval of the TSX Venture Exchange, Canadian Securities Exchange and all other regulatory bodies having jurisdiction in connection with the subject Transaction. The parties anticipate entering into a definitive agreement setting out in more detail the proposed terms of the Transaction (a "Definitive Agreement").

Robix will be hosting a conference call to discuss the benefits and synergies of the proposed transaction on June 2, 2016 at 11:30 am Mountain Daylight Time. Conference call dial-in numbers will be provided closer to the call. Further details about the proposed Transaction and the resulting issuer will be provided in a comprehensive news release when the parties enter into a Definitive Agreement and in a disclosure document to be prepared and filed in respect of the Transaction.

Additional information with respect to the Transaction will be provided in subsequent news releases.

In addition, the Company is pleased to announce the appointment of Karla Avla-Jorstad to the position of Chief Operating Officer of Robix. Commenting on Ms. Avla-Jorstad's appointment to COO position, Nathan Hansen said, "Karla has been a valuable member of our team for the past year and a half and has led our market penetration efforts in Mexico. She brings a wealth of knowledge to this role and is already deeply connected to potential customers in multiple jurisdictions."

Finally Robix announced that the Corporation, subject to regulatory approval, has granted incentive stock options to purchase a total of 330,000 common shares, at an exercise price of $0.22 per common share, to an officer and director of Robix. The options expire on May 18, 2019, in accordance with the Corporation's stock option plan. Robix has determined that exemptions from the various requirements of Multilateral Instrument 61-101 are available for the issuance of the options to the officer and director of the Corporation (Formal Valuation - Issuer Not Listed on Specified Markets; Minority Approval - Fair Market Value Not More Than 25% of Market Capitalization).