Scorpex (SRPX) Signs Definitive Agreement to Acquire Scorpex International

LAS VEGAS, NV–(Marketwire – 07/11/11) – Scorpex, Inc. (Pinksheets:SRPX) (the “Company”) today announces that it has entered into a definitive agreement to acquire Scorpex International, Inc. The acquisition has been effected through the merger of a direct wholly-owned subsidiary of the Company with Scorpex International. Scorpex International is now a wholly-owned subsidiary of the Company.

Scorpex International, Inc., formerly known as Scorpion International Waste Solutions, Inc., is a development stage company in the hazardous and toxic waste industry. With its first facility located near Ensenada, Mexico, Scorpex International is developing its first property for the storage, recycling, treatment, and disposal of hazardous waste. Once completed, Scorpex International will have the only industrial waste processing facility of its kind in Baja Mexico.

It is intended that the transaction will qualify for a tax free plan of reorganization pursuant to the provision of Sections 368(a)(1)(B) of the Internal Revenue Code of 1985, as amended. Pursuant to the terms of the agreement, each issued and outstanding share of Scorpex International stock, other than those cancelled, has been converted into the right to receive 75 percent of one share of the Company’s stock.

Joseph Caywood, Chief Executive Officer, stated, “We are very excited to bring this emerging growth story to the public markets and will be working diligently to start the audit process and further increase transparency and industry awareness by engaging a third party valuation company. With access to equity financing, we will be able to accelerate our growth strategy to capitalize on the burgeoning opportunities in the Baja Mexico/California region where demand for waste management exceeds capacity.”

This press release may contain certain forward-looking statements regarding future circumstances. These forward-looking statements are based upon the Company’s current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Company or any other person that the events or circumstances described in such statements are material.