Private placement closesEnvironmental Waste closes $1-million private placement 2014-09-17 17:09 ET - News Release Mr. Bob MacBean reports ENVIRONMENTAL WASTE INTERNATIONAL COMPLETES PRIVATE PLACEMENT Environmental Waste International Inc. has closed a private placement of 10 million shares at an issue price of 10 cents per common share, raising proceeds of $1-million. The common shares issued in the private placement will be subject to a hold period of four months and one day. The net proceeds from the offering will be used for general working capital purposes. On Sept. 5, 2014, the company announced that it had entered into a non-binding letter of intent (LOI) for the acquisition of all the shares of Environmental Waste International by A.C. Simmonds and Sons Inc. (ACSX). Under the terms of that LOI, ACSX would issue one of its shares for every 40 Environmental Waste International shares. Additionally, the company was permitted under the LOI to issue up to 20 million common shares pursuant to one or more private placements, without any change in the 1:40 exchange ratio. We seek Safe Harbor.