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Tirex Receives First of Three Payments Totalling $1,240,000 CDN Dollars Through the Refundable Investment Tax Credits Program

8 November 1999

Tirex Receives First of Three Payments Totalling $1,240,000 CDN Dollars Through the Refundable Investment Tax Credits Program

    MONTREAL--Nov. 8, 1999--The Tirex Corp. (OTCBB:TXMC) announced Monday that it received $606,948 CDN Dollars from the Quebec Government under the Refundable Investment Tax Credit Program.
    This is the first of three disbursements made under this program. The company anticipates receiving a total of $1,240,000 CDN Dollars over the next four weeks.
    Terence C. Byrne, CEO, stated that these funds will be used to pay down the current line of credit with SCOTIABANK and will be used for working capital to advance the TCS-1 Cryogenic Scrap Tire Recycling System.