Environmental Waste International Inc.

Environmental Waste International Inc.

June 21, 2010 16:47 ET

EWS Receives Payment From Ellsin and Issues Options

AJAX, ONTARIO--(Marketwire - June 21, 2010) - Environmental Waste International (EWS) (TSX VENTURE:EWS) announced that a wholly owned subsidiary, EWI Rubber Inc has received an installment payment of $300,000 from Ellsin Environmental Ltd. (Ellsin), bringing to $4,000,000 the amount Ellsin has paid on the contract to design and build a tire reduction (TR900) prototype system. The prototype tire processing plant in Sault Ste. Marie will showcase the EWS Reverse Polymerization™ Process. The TR900 plant is designed to break down 900 tires per day into carbon black, oil and steel. Off-gases from the process will be used to power the system. EWS reports that work on the TR900 is progressing on schedule and that EWS hopes to have the system installed by the end of 2010.

At EWS's Annual and Special Meeting of Shareholders on June 16, 2010, all resolutions, including the proposed changes to the Company Stock Option Plan, were approved. On June 17, 2010 EWS issued options to purchase 1,685,000 common shares, of which directors were issued 1,000,000 at an exercise price of $0.25 per share and 350,000 at $0.35 per share; these options expire June 16, 2015.

EWS has also designed processors for the environmentally safe sterilization and disposal of medical, biological, liquid and food waste and for the recovery of usable byproducts from other organic sources. 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.

Contact Information

  • Environmental Waste International Inc.
    Dr. Stephen Simms
    (905) 686-8689