ECLMF - Ecolomondo Retains Red Cloud Securities Inc. for Market Liquidity Services
(TheNewswire)
Montreal, QC – TheNewswire- March 3, 2022 -- Ecolomondo Corporation (TSXV:ECM) (OTC:ECLMF) (the “ Company ” or“ Ecolomondo ”), a cleantech company specializing in the development ofproprietary recycling technology, Thermal Decomposition Process(“ TDP ”) and the commercialization of turnkey TDP facilities,today announces that, subject to regulatory approval, it has retainedRed Cloud Securities Inc. (" Red Cloud ") to provide market makingservices to the Company in compliance with the policies and guidelinesof the TSX Venture Exchange (“ TSXV ”) and other applicable legislation. RedCloud is a Toronto-based financial services company that providesassistance to Companies in accessing capital markets and enhancingtheir corporate profile. Red Cloud will trade shares of EcolomondoCorporation on the TSXV for the purposes of maintaining a reasonablemarket and improving the liquidity of the companies’ commonshares.
Under the agreement, the Company will pay Red Cloud$5,000 per month during the term. The term of engagement is ongoingand may be terminated by either party on 30 days' prior writtennotice. The Company and Red Cloud have an arm's length relationship,but Red Cloud and/or its clients may have an interest, directly orindirectly, in the securities of the Company. The agreement isprincipally for the purposes of maintaining market stability andliquidity for the Company's common shares and is not a formal marketmaking agreement. There are no performance factors contained in theagreement between Red Cloud and the Company and Red Cloud will notreceive any shares or options from the Company as compensation forservices it will render.
About Red Cloud Securities
Red Cloud Securities Inc. is registered as anInvestment Dealer in Ontario, Quebec. Alberta and British Columbia andis a member of the Investment Industry Organization of Canada (IIROC).It is focused on providing unique comprehensive capital marketservices and innovative financing alternatives. It was founded bycapital markets professionals who designed the firm to service smallpublic and private companies. This solution is a comprehensiveplatform that provides a full range of unconflicted corporate accessservices. Offering these services as a unified platform provides theultimate value proposition for issuer clients.
About TDP Technology
Thermal Decomposition Process technology is aproprietary waste-to-resources technology that the Company expectswill play a critical role in the development and proliferation of thecircular economy. TDP is a closed loop, slow pyrolysis technology thatoperates in an oxygen-free environment using positive pressure and abatch rotary reactor. The process is largely energy self-sufficient.Ecolomondo’s exclusive automation system allows for strict controlof cycle times, processing parameters and consistent batch production,resulting in quality, commercial-grade recycled commodities andend-products.
About Ecolomondo Corporation
Ecolomondo is a Canadian cleantech company specializing in thecommercialization of its waste-to-products operations and proprietaryTDP technology. With 25+ years of industry experience and a trackrecord of establishing strong circular economy partnerships, theCompany is strategically positioned to become a major global vendor ofturnkey TDP facilities that convert hydrocarbon waste into saleableend-products including recycled carbon black, oil, gas andsteel.
Revenue growth will come from the building andoperations of fully-automated and energy-efficient TDP facilities.Ecolomondo’s initial focus is to aggressively market TDP facilityexpansion throughout North America, as management has been speakingwith numerous public and private sector industry groups looking forbreakthrough solutions for processing hydrocarbon waste.
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.
The securities offered have not been, nor will they be,registered under the U.S. Securities Act of1933, as amended (the “ 1933Act ”), 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 anapplicable 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 information pleasecontact:
Eliot 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 the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
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