Toronto, Ontario--(Newsfile Corp. - September 18, 2019) - This press release is being disseminated as required by National Instrument 62 103 - The Early Warning System and Related Take Over Bid and Insider Reporting Issues in connection with the filing of an early warning report (the "Early Warning Report") regarding the acquisition of securities of Environmental Waste International Inc. (TSXV: EWS) (the "Company") by Thornbury Holdings Ltd. ("Thornbury").
On September 16, 2019 Thornbury acquired ownership over 5,000,000 common shares (the "Common Shares") and 2,500,000 warrants (the "Warrants"), representing approximately 2.3% of the issued and outstanding Common Shares of the Company on an undiluted basis and 3.4% of the issued and outstanding Common Shares on a partially diluted basis, assuming the exercise of the 2,500,000 Warrants. Thornbury acquired the Common Shares and Warrants pursuant to a private placement of units (the "Units") by the Company, whereby Thornbury purchased 5,000,000 Units at a price of $0.05 per Unit (the "Private Placement"). Each Unit is comprised of one (1) Common Share and one-half of one (½) Common Share purchase warrant (the "Warrants"). Each whole Warrant is exercisable for one (1) Common Share at an exercise price of $0.20 and expires on September 16, 2022.
Following the Private Placement, Thornbury owns 20,825,586 Common Shares and 2,500,000 Warrants, representing approximately 10.8% of the issued and outstanding Common Shares of the Company, assuming the exercise of the Warrants.
Thornbury acquired the Units for investment purposes. Thornbury may, from time to time, take such actions in respect of its holdings in securities of the Company as it may deem appropriate in light of the circumstances then existing, including (i) acquiring, exercising, converting, exchanging, selling or otherwise disposing of securities of the Company or securities exercisable for, or convertible or exchangeable into, securities of the Company, and (ii) developing plans or intentions or taking actions which relate to or would result in one or more of the transactions or matters referred to in paragraphs (a) through (k) of Item 5 of the Early Warning Report filed on SEDAR.
A copy of Thornbury's Early Warning Report with respect to the foregoing is filed under applicable securities laws and is available under the Company's profile on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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