ECLMF - Ecolomondo Announces Private Placement Financing Now Fully Subscribed
(TheNewswire)
Montreal, QC – TheNewswire- September 14, 2021 - Ecolomondo Corporation (TSXV:ECM) (OTC:ECLMF) (the“ Company ” or “ Ecolomondo ”), a cleantech companyspecializing in the development of proprietaryThermal Decomposition Process (“ TDP ”) recycling technology and the commercialization ofturnkey TDP facilities used to transform tires, plastics and other hydrocarbon waste into salable renewablecommodities, is pleased to report that thepreviously announced non-brokered private placement (the“ PrivatePlacement ”) of up to 6,153,846 units (the“ Units ”) at a price of $0.65 per Unit for gross proceeds of up to$4,000,000 has been fully subscribed. This financing is anticipated toclose by September 24, 2021.
Eliot Sorella, Chairman and Chief Executive Officersaid: “Our flagship Hawkesbury TDP facility is on the verge of beingcommissioned, and we appreciate the widespread commitment extended toEcolomondo from supporters across North America participating in thisprivate placement. We have an aggressive expansion strategy in placeand look forward to deploying this capital to grow and maximizeshareholder value.”
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 PrivatePlacement is subject to the approval of the Exchange.
About Ecolomondo Corporation
Ecolomondo is a Canadian cleantech company specializingin the commercialization of its waste-to-products operations andproprietary TDP technology. With 25+ years of industry experienceand a track record of establishing strong circular economy partnerships, the Company is strategically positioned to become amajor global vendor of
turnkey TDP facilities that convert hydrocarbon wasteinto salable end-products including carbon black substitute, oil,gas and steel.
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 carbon credits. Ecolomondo’s initial focus is to aggressively market TDPfacility expansion throughout North America, as management has beenspeaking with numerous public and private sector industry groupslooking for breakthrough solutions extending across the entireproduct management and processing lifecycle.
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 theserisks and uncertainties and as a result of a variety of factors, theactual results, 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 toupdate or revise any forward-looking statements to reflect actualresults, whether as a result of new information, future events, 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. SecuritiesAct of 1933, as amended (the “ 1933 Act ”), or under any state securitieslaws, and may not be offered or sold, directlyor indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (asdefined in Regulation S under the 1933 Act)absent registration or an applicable exemption from the registration requirements. This news release does notconstitute an offer to sell or a solicitation to buy such securities in the United States.
For further information please contact:
Elio Sorella,
Chairman and Chief Executive Officer, Ecolomondo
Tel: (450) 587-5999
esorella@ecolomondocorp.com
www.ecolomondo.com
Neither TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of theTSX Venture Exchange) accepts responsibility for the adequacy oraccuracy of this release.
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