|By Marketwired .||
|June 18, 2014 05:57 PM EDT||
AJAX, ONTARIO -- (Marketwired) -- 06/18/14 -- Environmental Waste International Inc. ("EWS") (TSX VENTURE:EWS) (the "Company"), a company specializing in eco-friendly systems with proven patented technology for the breakdown of organic materials, today announced it has entered into a credit agreement (the "Credit Agreement") with Amici Associates L.P. in connection with a 3-year term loan in the principal amount of $500,000 (the "Loan"). The outstanding principal balance under the Loan will bear interest at a rate of 8% per annum. The Company also granted a security interest in favour of the lender as security for the Company's obligations under the Credit Agreement. As additional consideration for the Loan, the Company issued to the lender 500,000 common share purchase warrants ("Warrants"), each Warrant entitling the lender to acquire one common share in the capital of the Company at an exercise price of $0.20 for a period of three years.
The Company's wholly owned subsidiary, Ellsin Environmental Ltd., provided a guarantee of the Company's obligations under the Credit Agreement. Ellsin also granted a security interest in favour of the lender as security for its obligations under the guarantee.
The proceeds of the Loan has been used to retire other debt of the Company, with the remainder to be used for general working capital.
About Environmental Waste International Inc.
Environmental Waste International Inc. specializes in eco-friendly systems for the breakdown of organic materials, including tires. EWS has spent over 15 years engineering systems that integrate the EWS patented Reverse Polymerization(TM) process and proprietary microwave delivery system. EWS's unique microwave technology safely processes and recycles waste tires, while creating a highly valuable commodity output for industry, including carbon black, oil and steel. Each unit is designed to be energy efficient and where possible, create an economically positive model for the recovery of various hydrocarbon oil and gases. For more information please visit, www.ewi.ca.
This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with the Company's business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect the Company's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks and Uncertainties" in the Company's most recent Management Discussion & Analysis, which can be found on the Company's profile at www.sedar.com. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.
Neither 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.
Aug. 28, 2016 11:15 PM EDT Reads: 2,120
Aug. 28, 2016 10:30 PM EDT Reads: 4,040
Aug. 28, 2016 08:30 PM EDT Reads: 1,824
Aug. 28, 2016 08:15 PM EDT Reads: 1,942
Aug. 28, 2016 07:30 PM EDT Reads: 695
Aug. 28, 2016 06:30 PM EDT Reads: 1,617
Aug. 28, 2016 06:00 PM EDT Reads: 1,934
Aug. 28, 2016 05:30 PM EDT Reads: 753
Aug. 28, 2016 03:15 PM EDT Reads: 3,502
Aug. 28, 2016 03:00 PM EDT Reads: 754
Aug. 28, 2016 01:45 PM EDT Reads: 3,664
Aug. 28, 2016 01:00 PM EDT Reads: 2,430
Aug. 28, 2016 12:15 PM EDT Reads: 858
Aug. 28, 2016 11:45 AM EDT Reads: 700
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Aug. 28, 2016 11:30 AM EDT Reads: 1,971