ECM:CC - Ecolomondo Announces Closing of Non-Brokered Private Placement Of C$506660

(TheNewswire)

Montreal, QC, July 26, 2024 – TheNewswire – Ecolomondo Corporation (TSXV: ECM) (OTC:ECLMF) (the “ Company ” or “ Ecolomondo ”), acleantech company specializing in the commercialization of its ThermalDecomposition Process (“ TDP ”) proprietary recycling technology andthe global deployment of TDP turnkey facilities, is pleased to announce that it completed a non-brokered private placement(the " Offering ") for gross proceeds ofC$506,660.04 from the sale of 2,814,778 units of the Company (each, a“ Unit ”) at a price of C$0.18 per Unit. Each Unit consists of onecommon share of the Company (each, a “ Unit Share ”) andone common share purchase warrant (a “ Warrant ”). EachWarrant shall entitle the holder to purchase one common share of theCompany (each, a “ WarrantShare ”) at a price of C$0.24 at any time on orbefore that date which is 2 years after the closing date of theOffering, provided that if the closing price of the common shares on the TSXVenture Exchange is equal to or greater than $0.30 for a period of 10consecutive trading days, the Company may accelerate the expiry dateof the Warrants by disseminating a press release, and in such case theWarrants will expire on the 30 th day after thedate on which such press release is disseminated.

This strategic financing coupled with the recentlyannounced $3M loan from Export Development Canada (“ EDC ”) will supportthe Company’s ongoing development and expansion initiatives,reinforcing its commitment to advancing the TDP technology andbringing sustainable solutions within the tire recyclingindustry.

The Units were sold to purchasers in the provinces ofQuebec, Alberta, British Columbia, Manitoba, Ontario and Saskatchewanpursuant to the listed issuer financing exemption under Part 5A ofNational Instrument 45-106 – Prospectus Exemptions . The Unit Shares andWarrant Shares are immediately freely tradeable under applicableCanadian securities legislation if sold to purchasers resident inCanada.

The purchase of Units pursuant to the Offering by EliotSorella and Michael Frankel, each a director or officer of the Company(collectively, the “ RelatedParties ”) constituted a “related partytransaction” as such term is defined by Multilateral Instrument61-101 - Protection ofMinority Security Holders in Special Transactions (“ MI61-101 ”). The Company was exempt from the MI61-101 valuation and minority approval requirements for related partytransactions in connection with the Offering because the Company wasnot listed on a stock exchange specified in section 5.5(b) of MI61-101, and neither the fair market value of the Units purchased bythe Related Parties, nor the proceeds to be received by the Company inrespect of the Related Parties’ participation in the Offering,exceeded $2,500,000.

At the closing of the Offering, the Company paidcertain finders a cash commission of $3,910.20, equal to 7.0% of thegross proceeds of the Offering resulting from purchasers introduced bysuch finders. The Company intends to use the netproceeds from the Offering to optimize the process and production inthe Hawkesbury TDP Facility and for working capital and generalcorporate purposes.

None of the securities sold under the Private Placementhave been and will not be registered under the United StatesSecurities Act of 1933, as amended, and no such securities may beoffered or sold in the United States absent registration or anapplicable exemption from the registration requirements. This newsrelease shall not constitute an offer to sell or the solicitation ofan offer to buy nor shall there be any sale of the securities in theUnited States or any jurisdiction in which such offer, solicitation orsale would be unlawful.

In addition to the financing, Ecolomondo has recentlyannounced in a press release dated July 18, 2024, a $3 million loanfrom Export Development Canada (EDC) extended tothe Company’s subsidiary, Ecolomondo Environmental (Hawkesbury)Inc., owner of the Hawkesbury facility. The Loan calls for a 2-yearterm, with a floating interest rate of prime plus 8%. Interestpayments will be capitalized until February 28, 2025 and payablethereafter on a monthly basis. This significantfinancial support from EDC will further enable the Company to enhanceits operational capabilities, accelerate project timelines, andstrengthen its market position.

The Company remains focused on its mission to deployits cutting-edge technology that transform waste into valuableresources, contributing to a circular economy and reducingenvironmental impact.

Ecolomondo’s CEO, Gary Economo, stated, “We arethrilled with the progress we have made in securing the necessaryfinancial resources and exploring strategic partnerships that alignwith our vision of creating a sustainable future. These recentmilestones reflect the confidence and support of our investors andother stakeholders, and we look forward to capitalizing on theseopportunities to deliver long-term value for our investors.”

About Ecolomondo Corporation

Ecolomondo Corporation is a Canadian cleantech company that prides itself after its proprietary ThermalDecomposition technology TDP which is headquartered in Québec, Canada . It has a 25-year history and during this time has been focused on its development of itstechnology and the deployment of TDP turnkeyfacilities . TDP recovers high value re-usable commodities from scrap tire waste, notably rCB, oil , syngas, fiber and steel. Ecolomondo expects to be a leading player in the cleantechspace and be an active contributor to the global circular economy. Ecolomondo trades in Canada on the TSX VentureExchange under the symbol (TSXV:ECM) and in theUnited States under the symbol (OTCQB:ECLMF). To learn more, visit www.ecolomondo.com

About the Hawkesbury Plant – A2-Reactor TDP Facility

The Hawkesbury facility building is 46,200 sq.ft andhas an impressive indoor clearance of 28 feet. It is state-of-the-artand houses 4 main production departments, tire shredding, thermaldecomposition, recycled carbon black refining and oil fractionation.Once fully operational, this facility is expected to process 1.3M ofscrap tires per year and produce 8.7M lbs ofrecovered carbon black, 34,608 barrels of oil, 2.9M lbs of steel, and2.6M lbs of process gas.

About the Shamrock Project – A6-Reactor TDP Facility

Processing capabilities for the Shamrock facility isprojected at 5.5M per year of end-of-life tires, yieldingapproximately 35.1M lbs of recovered carbon black, 128,100 barrels ofoil, 11.9M lbs of steel, and 10.6M lbs of syngas; roughly three timesthe size of the Company’s Hawkesbury (Ontario) plant output.Facility construction is expected to begin by the third quarter of 202 4 with completion expected by the endof the fourth quarter of2025. Projected cost to build is approximately US $93 million.

Our Mission , Vision & Strategy

Ecolomondo’s mission is to be a contributingparticipant in a dynamic Circular Economy and to increase shareholdervalue by producing and supplying large quantities of recoveredresources to be re-used in the manufacture of new products.

Ecolomondo’s vision is to be a leading producer andreseller of recovered resources by building and operating TDPfacilities, strategically located in industrialized countries, closeto feedstock, labor and offtake clients.

Our strategy is to become a major global builder andoperator of TDP turnkey facilities, for now specializing in theprocessing of ELTs. Our intent is to expand aggressively in NorthAmerica and Europe. Our experience and modular technology should helpus get there faster and better. We plan to keep performing ongoingresearch and development to ensure that Ecolomondo remainstechnologically advanced.

ISCC Certification

ISO Certification

The Company has obtained ISO 9001:2015, ISO 14001:2015& ISO 45001:2018 certification of its Integrated Management System(IMS), which acknowledges Ecolomondo’s commitment for quality,environmental impact and health and safety at work.

Environmental, Social &Governance (ESG)

On the social aspect the Company plans to measureglobal health and safety, injury rate and gender diversity, andfinally in the corporate governance aspect, the Company is measuringethics and anticorruption, ESG reporting and board independence.

About TDP

The TDP process is technically proven and moreadvanced than most other pyrolysis technologies.Over the years, our Technological teams were able to overcome alluncertainties that plagued most competitors especially inthe s e areas:pre-filtration, reactor cooling, reactor rotation, water recycling, processing of rCB,(hydrocarbon removal), mass monitoring, heat curve development,humidity and water removal, safety testing, system automation,emissions control and monitoring .

TDP is Environmentally Friendly –CO 2 Reduction

By producing rCB, TDP reduces GHG emissions by 90%versus the production o fvirgin carbon black. The production of rCB at the Hawkesbury andShamrock facilities are expected to reduce CO2 emissions by 22,400 and 67,200 tons per year,respectively.

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Ecolomondo Corporation Contact

Gary Economo

Chief Executive Officer, Ecolomondo

Tel: (450) 587-5999

geconomo@ecolomondocorp.com

www.ecolomondo.com

Cautionary NoteRegarding Forward Looking Statements

The information in this news release includes certaininformation and statements about management's view of future events,expectations, plans and prospects that constitute forward lookingstatements. These statements are based upon assumptions that aresubject to significant risks and uncertainties. Because of these risksand uncertainties and as a result of a variety of factors, the actualresults, expectations, achievements or performance may differmaterially from those anticipated and indicated by theseforward-looking statements. Although Ecolomondo believes that theexpectations reflected in forward looking statements are reasonable,it can give no assurance that the expectations of any forward-lookingstatements will prove to be correct. Except as required by law,Ecolomondo disclaims any intention and assumes no obligation to updateor revise any forward-looking statements to reflect actual results,whether as a result of new information, future events, changes inassumptions, changes in factors affecting such forward-lookingstatements or otherwise.

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.

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