|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 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.
Dec. 7, 2016 05:15 AM EST Reads: 1,040
Dec. 7, 2016 04:00 AM EST Reads: 855
Dec. 7, 2016 02:00 AM EST Reads: 615
Dec. 7, 2016 01:45 AM EST Reads: 6,161
Dec. 7, 2016 01:15 AM EST Reads: 1,873
Dec. 7, 2016 01:00 AM EST Reads: 1,614
Dec. 7, 2016 12:45 AM EST Reads: 3,933
Dec. 7, 2016 12:45 AM EST Reads: 1,238
Dec. 7, 2016 12:15 AM EST Reads: 1,371
Dec. 7, 2016 12:15 AM EST Reads: 1,024
Dec. 7, 2016 12:00 AM EST Reads: 1,267
Dec. 7, 2016 12:00 AM EST Reads: 2,125
Dec. 6, 2016 11:45 PM EST Reads: 745
Dec. 6, 2016 10:15 PM EST Reads: 1,151
"We are the public cloud providers. We are currently providing 50% of the resources they need for doing e-commerce business in China and we are hosting about 60% of mobile gaming in China," explained Yi Zheng, CPO and VP of Engineering at CDS Global Cloud, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 6, 2016 09:15 PM EST Reads: 1,059