EWI Investors, LLC Increases Equity Stake in Environmental Waste International Inc. by Converting Note to Common Equity

Toronto, Ontario--(Newsfile Corp. - July 7, 2021) - This press release is being disseminated as required by National Instrument 62 103 - The Early Warning System and Related Take Over Bid and Insider Reporting Issues in connection with the filing of an early warning report (the "Early Warning Report") regarding the acquisition of securities of Environmental Waste International Inc. (TSXV: EWS) (the "Company" or "EWS") by EWI Investors, LLC ("EWI Investors").

The Company previously entered a promissory note dated April 12, 2017 and amended on September 16, 2019 with EWI (the "Note"), of which Robert Savage, a Director of EWS, is the Managing Member. The principal amount of the Note is $1,000,000. The Note bears interest at a rate of 6% per annum, of which $101,775 of interest had accrued up to May 24, 2021.

EWI Investors and the Company have negotiated the settlement of the total amount of $1,101,775 by way of the issuance of 4,590,729 common shares of the Company at a price of $0.24 per share (the "Debt Conversion") pursuant to a settlement agreement dated May 24, 2021. Following the Debt Conversion, EWI Investors beneficially owns 53,477,266 common shares, representing approximately 20.7% of the issued and outstanding shares of EWS. EWI Investors also owns 3,712,500 warrants and 425,000 options in the capital stock of the Company. Prior to the Debt Settlement, EWI owned 48,886,537 common shares, 3,712,500 Warrants and 425,000 options, representing 19.4% of the issued and outstanding common shares of the Company on a fully diluted basis.

The common shares were acquired for investment purposes. EWI may, from time to time, take such actions in respect of its holdings in securities of the Company as it may deem appropriate in light of the circumstances then existing, including (i) acquiring, exercising, converting, exchanging, selling or otherwise disposing of securities of the Company or securities exercisable for, or convertible or exchangeable into, securities of the Company, and (ii) developing plans or intentions or taking actions which relate to or would result in one or more of the transactions or matters referred to in paragraphs (a) through (k) of Item 5 of the Early Warning Report filed on SEDAR.

A copy of EWI's Early Warning Report with respect to the foregoing is filed under applicable securities laws and is available under the Company's profile on SEDAR at www.sedar.com.

Contact:

EWI Investors, LLC
Robert Savage
Tel: (212) 710-5070
Email: rsavage@kshcapital.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/89716