AJAX, ONTARIO--(Marketwired - March 30, 2016) - Environmental Waste International Inc. ("EWS") (TSX VENTURE:EWS) (the "Company") today announced it has entered into a credit agreement with the Collector's Fund L.P. (the "Lender") to document $500,000 loan provided to the Company. The loan matures on June 10, 2018 and interest will accrue on the principal balance of the loan at a rate of 8% per annum. The loan is also convertible into common shares of the Corporation at a conversion price of $0.10 per common shares, provided that the Lender together with its affiliates will, after conversion, hold less than 20% of the Company's issued and outstanding shares.
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.