AJAX, ONTARIO, Jan. 25, 2011 (Marketwire) --
Environmental Waste International Inc. (EWS) (TSX VENTURE:EWS) announced that on January 24, 2011 it closed the private placement announced December 9, 2010. The 5,000,000 Unit placement was fully subscribed with gross proceeds of $1,750,000, less agent fees of $36,289 payable to arm's length parties. Each $0.35 Unit consists of one common share and one half of a Share Purchase Warrant. A whole Share Purchase Warrant allows for the purchase of one additional common share of EWS at a price of $0.50 through January 23, 2013. All shares issued in the placement are subject to a hold period that expires May 24, 2011. Funds will be used for ongoing research and development projects, including the TR tire application, as well as for general working capital purposes.
EWS has designed systems for the breakdown and recovery of usable byproducts from several organic materials, including rubber tires, and for the sterilization of medical, animal, liquid and food waste. EWS continues to explore other applications for its technology. Please visit EWS's home page on the Internet at: www.ewmc.com.
WARNING: The Company relies upon litigation protection for "forward-looking" statements.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Environmental Waste International Inc.