AJAX, ONTARIO--(Marketwire -01/30/12)- Environmental Waste International Inc. (EWS) (TSX-V: EWS.V - News) announced that the December 30, 2011 private placement of 8,000,000 units for $2,000,000 has been accepted by the TSXV. The placement of the units was fully subscribed for by a group of funds managed by Porter Orlin LLC. Each unit consists of one common share and 0.375 of a share purchase warrant. A whole share purchase warrant entitles the holder to purchase one additional common share of EWS at a price of $0.50 through January 30, 2014. The shares and share purchase warrants are subject to a TSXV four month hold that expires on May 30, 2012. The group of funds managed by Porter Orlin LLC now holds approximately 16% of the issued EWS common shares.
The proceeds of the private placement will be used to complete the TR900 pilot plant in Sault Ste. Marie, ongoing research and development, and for general working capital purposes. The Company also announces that it will not continue its Investor Relations contract with Renmark Financial Communications Inc. and that all services will end on January 31, 2012.
About Environmental Waste International Inc. (EWS)
EWS has designed systems for the breakdown and recovery of usable byproducts from several organic materials, including rubber tires, and for the sterilization of medical, animal, liquid and food waste. EWS continues to explore other applications for its technology. Please visit the EWS website at: www.ewmc.com.
WARNING: The Company relies upon litigation protection for "forward-looking" statements.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
- private placement
Environmental Waste International Inc.
Dr. Stephen Simms