Ecolomondo Announces Private Placement
Montreal, QC, TheNewswire, December 7, 2022 -- Ecolomondo Corporation (TSXV:ECM) (OTC:ECLMF) (the “Company” or “Ecolomondo”), a cleantech company specializing in the commercialization of its Thermal Decomposition Process (“TDP”) proprietary recycling technology and the building and operating of turnkey TDP facilities globally, announces that it will be proceeding with a private placement consisting of the sale of up to 7,000,000 units at $0.45 each (the “Units”) for gross proceeds of $3,150,000.
Each Unit will consist of one common share (the “Common Shares”) and one common share purchase warrant (the “Warrants”). Each Warrant will entitle the holder thereof to acquire an additional Common Share of the Company for $0.55 for a period of six months from the date of closing of the private placement.
The proceeds of this private placement will be used for general working capital purposes to meet strategic objectives and commitments, including the construction and completion of the new Hawkesbury TDP facility.
The closing date of this private placement is expected to occur on or about December 30, 2022, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the conditional approval from the TSX Venture Exchange.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”), the Units will be offered for sale to purchasers resident in Canada, and other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the “Listed Issuer Financing Exemption”). Because the private placement is being completed pursuant to the Listed Issuer Financing Exemption, the securities issued in the private placement will not be subject to a hold period pursuant to applicable Canadian Securities laws.
There is an offering document related to this offering that can be accessed under Ecolomondo’s profile at www.sedar.com and at https://www.ecolomondo.com/. Prospective investors should read this offering document before making an investment decision.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States or any other jurisdiction. No securities may be offered or sold in the United States or in any other jurisdiction in which such offer or sale would be unlawful absent registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom or qualification under the securities laws of such other jurisdiction or an exemption therefrom.
About Ecolomondo Corporation
Ecolomondo Corporation is a Canadian cleantech company headquartered in Québec, Canada with an over 25-year history focused on waste-to-resource technology development and deployment. Ecolomondo has developed the proprietary TDP which recovers high value circular commodities from end-of-life tires including rCB, oil and steel. TDP lowers carbon emissions by up to 90% versus virgin carbon black production. Ecolomondo has adopted a triple bottom line approach to business focused on people, planet, and profit. Ecolomondo trades on the TSX Venture Exchange under the symbol (TSXV:ECM). To learn more, visit www.ecolomondo.com
Ecolomondo Corporation Contact
Chairman and Chief Executive Officer, Ecolomondo
Tel: (450) 587-5999
Cautionary Note Regarding Forward Looking Statements
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Although Ecolomondo believes that the expectations reflected in forward looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Except as required by law, Ecolomondo disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.