Source: Environmental Waste International
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  • Environmental Waste International (EWS) has announced a $1,500,000 private placement financing
  • Each unit consists of one common share and one share purchase warrant
  • The company will use the funds for upgrading its Sault Ste. Marie facility, repayment of debt and working capital
  • The company has also signed a debt settlement agreement with two of its board members
  • Environmental Waste International Inc. specializes in eco-friendly systems for the breakdown of organic materials, including tires
  • Environmental Waste International Inc. was unchanged at $0.03 at 11:39 AM ET

Environmental Waste International (EWS) has announced a $1,500,000 private placement financing.

Each unit issued, priced at $0.05, consists of one common share and one share purchase warrant. Each warrant expires two years from the closing and has an exercise price of $0.20.

Each investor will also purchase certain shares of EWS from a director of EWS for $0.02 per share in a private transaction expected to close concurrently with the financing.

The company has also signed an agreement with two of its board members for the settlement of $457,866 debt owed to them in exchange for 13,081,879 shares at a price of $0.035 per debt share.

No broker or finder fees are anticipated to be paid in connection with the financing. All securities issued regarding the financing and debt settlement will be subject to four months and a day statutory hold period.

The financing and debt settlement are subject to TSX Venture Exchange approval.

The company will use the funds for upgrading its Sault Ste. Marie facility, repayment of debt and working capital.

Environmental Waste International Inc. specializes in eco-friendly systems for the breakdown of organic materials, including tires.

Environmental Waste International Inc. was unchanged at $0.03 at 11:39 AM ET.


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