Whitby, Ontario--(Newsfile Corp. - April 22, 2021) - Environmental Waste International (TSXV: EWS) (the "Company" or "EWS) announced today that it had raised $1,233,000 million via a private placement of 4,110,000 Common Shares at $0.30 per share (the "Offering"). There were no fees paid for the Offering.
The purchasers included members of Windspace A/S, EWS's European partner, who added to their previous investment in the Company.
The funds will be used for general corporate purposes, including increasing its engineering team and expanding Research & Development.
"We chose to raise a modest amount of working capital to accelerate the commercial-scale deployment of our proprietary technology. Our previously announced partnerships for development of plants in Canada and Europe are proceeding in a timely manner, so we feel it is prudent to expand our execution capabilities accordingly," stated EWS CEO Bob MacBean.
All securities issued pursuant to the Offering are subject to a statutory hold period ending August 23, 2021. The Offering is subject to TSX-V acceptance of regulatory filings.