RDX Technologies Corporation (TSXV:RDX) entered into an asset purchase agreement to acquire M2 Renewables, Inc. (M2R) from SAIL Capital Partners LLC and others for $14 million in cash and debt on June 1, 2014. Under the terms of the agreement, consideration comprises of $1 million in cash, of which $0.7 million has been paid as of June 30, 2014; an unsecured promissory note in the amount of $2 million and an earnout amount in the form of a convertible note of up to $11 million based on M2 Renewables' microscreen sales over the next three years. The deal is expected to close on or before March 31, 2015.

RDX Technologies Corporation (TSXV:RDX) completed the acquisition of M2 Renewables, Inc. from SAIL Capital Partners LLC and others in October, 2014. RDX brought all of the M2R manufacturing in house and has also integrated the M2R technology into the technology suite for waste water treatment by RDX. The acquisition includes all of the issued and patents pending for the related machinery and technology. In connection with the agreement, RDX agreed to list the Company or an affiliate in the United States. The existing M2R management contract was terminated upon the closing of the acquisition of M2R.