EWS Closes $1,750,000 Private Placement
January 25 2011 - 9:27AM
Marketwired
Environmental Waste International Inc. (EWS) (TSX VENTURE: EWS)
announced that on January 24, 2011 it closed the private placement
announced December 9, 2010. The 5,000,000 Unit placement was fully
subscribed with gross proceeds of $1,750,000, less agent fees of
$36,289 payable to arm's length parties. Each $0.35 Unit consists
of one common share and one half of a Share Purchase Warrant. A
whole Share Purchase Warrant allows for the purchase of one
additional common share of EWS at a price of $0.50 through January
23, 2013. All shares issued in the placement are subject to a hold
period that expires May 24, 2011. Funds will be used for ongoing
research and development projects, including the TR tire
application, as well as for general working capital purposes.
EWS has designed systems for the breakdown and recovery of
usable byproducts from several organic materials, including rubber
tires, and for the sterilization of medical, animal, liquid and
food waste. EWS continues to explore other applications for its
technology. Please visit EWS's home page on the Internet at:
www.ewmc.com.
WARNING: The Company relies upon litigation protection for
"forward-looking" statements.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Environmental Waste International Inc. Dr. Stephen
Simms EWS President (905) 686-8689
Environmental Waste (TSXV:EWS)
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