Environmental Waste International Inc.
TSX VENTURE : EWS

Environmental Waste International Inc.

January 22, 2008 11:33 ET

EWI Receives First Payment on Funding and Revenue Agreement

AJAX, ONTARIO--(Marketwire - Jan. 22, 2008) - Environmental Waste International Inc. (EWI) (TSX VENTURE:EWS) is pleased to announce that Environmental Waste International Limited Partnership (EWILP) has syndicated $8,394,000 of subscription units as of December 31, 2007. The units consist of cash and notes payable to EWI. The Company has received an initial cash payment of $339,151 with additional cash payments of $188,797 to be received in each of March, June and September 2008 and $399,380 to be received in the first half of 2009.

EWI has agreed to allow EWILP to continue to offer partnership units for sale. EWI is hopeful that the remaining units will be placed which would result in additional cash proceeds to EWI of up to $1,700,000 bringing the total to $3,000,000.

This funding arrangement should provide EWI with financial stability and demonstrate to potential customers our ability to provide long term service and warranty. EWI has begun work on a new sales and marketing program that will increase exposure of its systems to target markets and should lead to new interest and sales of the Company's product lines.

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
    CFO
    (905) 686-8689
    Website: www.ewmc.com