ECM:CC - Ecolomondo Announces Private Placement
(TheNewswire)
Montreal, QC, TheNewswire, December7, 2022 -- EcolomondoCorporation (TSXV:ECM) (OTC:ECLMF) (the“ Company ” or “ Ecolomondo ”), a cleantech companyspecializing in the commercialization of its Thermal DecompositionProcess (“ TDP ”) proprietary recycling technology and the building andoperating of turnkey TDP facilities globally, announces that it willbe proceeding with a private placement consisting of the sale of up to7,000,000 units at $0.45 each (the “ Units ”) for grossproceeds of $3,150,000.
Each Unit will consist of one common share (the“ Common Shares ”) and one common share purchase warrant (the“ Warrants ”). Each Warrant will entitle the holder thereof to acquirean additional Common Share of the Company for $0.55 for a period ofsix months from the date of closing of the private placement.
The proceeds of this private placement will be used forgeneral working capital purposes to meet strategic objectives andcommitments, including the construction and completion of the newHawkesbury TDP facility.
The closing date of this private placement is expectedto occur on or about December 30, 2022, and is subject to certainconditions including, but not limited to, the receipt of all necessaryapprovals, including the conditional approval from the TSX VentureExchange.
Subject to compliance with applicable regulatoryrequirements and in accordance with National Instrument 45-106 –Prospectus Exemptions (“ NI45-106 ”), the Units will be offered for saleto purchasers resident in Canada, and other qualifying jurisdictionspursuant to the listed issuer financing exemption under Part 5A of NI45-106 (the “ Listed IssuerFinancing Exemption ”). Because the privateplacement is being completed pursuant to the Listed Issuer FinancingExemption, the securities issued in the private placement will not besubject to a hold period pursuant to applicable Canadian Securitieslaws.
There is an offering document relatedto this offering that can be accessed under Ecolomondo’s profile atwww.sedar.com and at https://www.ecolomondo.com/ . Prospective investors should read thisoffering document before making an investment decision.
This news release does not constitute an offer to sellor a solicitation of an offer to buy any securities in the UnitedStates or any other jurisdiction. No securities may be offered or soldin the United States or in any other jurisdiction in which such offeror sale would be unlawful absent registration under the U.S.Securities Act of 1933, as amended, or an exemption therefrom orqualification under the securities laws of such other jurisdiction oran exemption therefrom.
About Ecolomondo Corporation
Ecolomondo Corporation is a Canadian cleantech companyheadquartered in Québec, Canada with an over25-year history focused on waste-to-resource technology development and deployment. Ecolomondo has developed theproprietary TDP which recovers high valuecircular commodities from end-of-life tires including rCB, oiland steel. TDP lowers carbon emissions by up to90% versus virgin carbon black production. Ecolomondo has adopted a triple bottom line approach tobusiness focused on people, planet, and profit.Ecolomondo trades on the TSX Venture Exchange under the symbol (TSXV:ECM). To learn more, visit www.ecolomondo.com
Ecolomondo Corporation Contact
Eliot Sorella
Chairman and Chief Executive Officer, Ecolomondo
Tel: (450) 587-5999
esorella@ecolomondocorp.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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