Environmental Waste International Inc.

Environmental Waste International Inc.

October 15, 2007 18:40 ET

EWI Announces Financing

AJAX, ONTARIO--(Marketwire - Oct. 15, 2007) - Environmental Waste International Inc. ("EWI") (TSX VENTURE:EWS) announced today that the TSX Venture exchange has approved $59,800 of 12% convertible debentures due December 31, 2008. The debentures, at the lenders option, are open to repayment from January 31, 2008 onward or can be converted into common shares at $0.13 per share representing 460,000 shares if fully exercised. EWI's five directors purchased the debenture as well as $55,200 of 12% secured loans due January 31, 2008.

EWI continues to work on the Funding and Revenue Agreement detailed in its June 5, 2007 press release. The company has completed all agreements and an arm's length group is presently working to raise the capital to complete the transaction. If the maximum funds are raised, EWI will receive $3,000,000 cash with almost half the funds paid to EWI before the end of 2007 and the balance in the first half of 2008.

EWI has designed systems for the sterilization of medical and animal waste, liquid waste and food waste as well as the treatment of several other organic waste streams including the breakdown of used tires. EWI continues to work on designs for other processors. Please visit EWI's home page 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.

Contact Information

  • Environmental Waste International Inc.
    Mr. Michael Abrams
    (905) 686-8689
    Website: www.ewmc.com