Environmental Waste International Completes $1.2 Million Private Placement
Whitby, Ontario--(Newsfile Corp. - April 22, 2021) - Environmental Waste International (TSXV: EWS) (the "Company" or "EWS) announced today that it had raised $1,233,000 million via a private placement of 4,110,000 Common Shares at $0.30 per share (the "Offering"). There were no fees paid for the Offering.
The purchasers included members of Windspace A/S, EWS's European partner, who added to their previous investment in the Company.
The funds will be used for general corporate purposes, including increasing its engineering team and expanding Research & Development.
"We chose to raise a modest amount of working capital to accelerate the commercial-scale deployment of our proprietary technology. Our previously announced partnerships for development of plants in Canada and Europe are proceeding in a timely manner, so we feel it is prudent to expand our execution capabilities accordingly," stated EWS CEO Bob MacBean.
All securities issued pursuant to the Offering are subject to a statutory hold period ending August 23, 2021. The Offering is subject to TSX-V acceptance of regulatory filings.
About Environmental Waste International Inc.
Environmental Waste International Inc. specializes in eco-friendly systems for the breakdown of organic materials, including tires. The Company has spent over 15 years engineering systems that integrate the EWS patented Reverse Polymerization™ process and proprietary microwave delivery system. EWS's unique microwave technology safely processes and recycles waste tires, while recovering highly valuable commodities, including carbon black, oil and steel. Each unit is designed to be environmentally safe, energy efficient, and economically profitable for the operator. For more information please visit, www.ewi.ca.
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This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. A more complete discussion of the risks and uncertainties facing the Company appears in the Company's continuous disclosure filings, which are available at www.sedar.com.
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