ECLMF - Ecolomondo Announces $4000000 Non-Brokered Private Placement
(TheNewswire)
Montreal, QC – TheNewswire- September 3, 2021 - EcolomondoCorporation (TSXV:ECM) (OTC:ECLMF)(the “ Company ” or “ Ecolomondo ”), a cleantech companyspecializing in the development of proprietaryThermal Decomposition Process (“ TDP ”) recyclingtechnology and the commercialization of turnkey TDP facilities usedto transform tires, plastics and other hydrocarbon waste intosalable renewable commodities, is pleased toannounce its intention to complete a non-brokered private placement(the “ Private Placement ” ) ofup to 6,153,846 units (the “Units” ) at a price of $0.65 per Unit, forgross proceeds of up to $4,000,000.
Each Unit is comprised of one common share (each a “ Share ” ) and one-halfof one share purchase warrant (each a “ Warrant ” ). Each wholeWarrant will entitle the holder to acquire one additional common share(a “WarrantShare” ) in the capital of the Company at aprice of $1.00 per Warrant Share, for a period of three years from thedate the Units are issued.
If during the exercise period of the Warrants, butafter the resale restrictions on the Warrant Shares have expired, theCompany's shares trade at or above a volume-weighted average price(VWAP) of $1.50 per share for 10 consecutive trading days, the Companymay provide notice in writing to the holders of the Warrants that theexpiry date will be accelerated 30 days from the date of providingsuch notice.
The Company may pay finder's fees on a portion of thePrivate Placement in accordance with applicable securities laws andthe policies of the TSX Venture Exchange (the “ Exchange ”). TheCompany confirms there is no material fact or material change relatedto the Company which has not been generally disclosed. The Common Shares and Warrants are subject to a four-monthhold period under applicable securities laws.
The Company plans to allocate the gross proceeds of thePrivate Placement to general working capital purposes and to helpaccelerate North American expansion plans. Closing of the Private Placement is subject to the approvalof the Exchange.
Ecolomondo is a Canadiancleantech company specializing in the commercialization ofits waste-to-products operations and proprietary TDP technology.With 25+ years of industry experience and a track record ofestablishing strong circular economy partnerships, the Company isstrategically positioned to become a major global vendor of turnkeyTDP facilities that convert hydrocarbon waste into salableend-products including carbon black substitute, oil, gas andsteel.
Revenue growth will come from the sale offully-automated and energy self-sufficient TDP facilities androyalties from the sale of end-products, tipping fees and carboncredits. Ecolomondo’s initial focus is to aggressively market TDPfacility expansion throughout North America, as management has beenspeaking with numerous public and private sectorindustry groups looking for breakthrough solutions extending acrossthe entire product management and processing lifecycle.
Cautionary Note Regarding Forward LookingStatements
The information in this news release includes certaininformation and statements about management's view of future events,expectations, plans and prospects that constitute forward looking statements. These statements are based uponassumptions that are subject to significant risks and uncertainties.Because of these risks and uncertainties and as a result of a varietyof factors, the actual results, expectations, achievements orperformance may differ materially from those anticipated and indicatedby these forward-looking statements. Although Ecolomondo believes thatthe expectations reflected in forward looking statements arereasonable, it can give no assurances that the expectations of anyforward-looking statements will prove to be correct. Except asrequired by law, Ecolomondo disclaims any intention and assumes noobligation to update or revise any forward-looking statements toreflect actual results, whether as a result of new information, futureevents, changes in assumptions, changes in factors affecting suchforward-looking statements or otherwise.
The Private Placement securities have not been and willnot be registered under the U.S. Securities Act of 1933, as amended(the “ 1933 Act ”), or under any state securities laws, and may not beoffered or sold, directly or indirectly, or delivered within theUnited States or to, or for the account or benefit of, U.S. persons(as defined in Regulation S under the 1933 Act) absent registration oran applicable exemption from the registration requirements. This newsrelease does not constitute an offer to sell or a solicitation to buysuch securities in the United States.
For further informationplease contact:
Elio Sorella,
Chairman and Chief Executive Officer, Ecolomondo
Tel: (450) 587-5999
www.ecolomondo.com
Neither TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release. NOT FOR DISTRIBUTION TO U.SNEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
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