Clyvia Inc.
OTC Bulletin Board : CLYV

Clyvia Inc.

December 07, 2006 09:31 ET

Clyvia Inc. Announces Private Placement

POINT ROBERTS, WASHINGTON--(CCNMatthews - Dec. 7, 2006) - Clyvia Inc. (OTCBB:CLYV)(WKN:A0F59X)(ISIN:US18975K1088) announces that it has completed a private placement with one corporate investor of 1,157,400 units at a price of EUR 0.432 (US $0.58) per unit for total proceeds of EUR 500,000 (US $666,346). Each unit will be comprised of one share of the Company's common stock and one share purchase warrant. Each share purchase warrant will entitle the holder to purchase one additional share of the Company's common stock at a price of EUR 0.44 (US $0.59) per share for a period of one year from the date of closing.

The Company will pay a finder's fee of 10% of the proceeds in cash, to Rifino International Investment Corp., of Liechtenstein, in consideration of its efforts in arranging the private placement.

Proceeds of the private placement will be used for general corporate purposes.

About Clyvia

Clyvia Inc. is currently in the process of a developing a proprietary technology that utilizes a process known as catalytic depolymerization to produce diesel fuel and heating oil from various forms of recyclable waste materials, including waste oils, plastics and organics. The process used by Clyvia's technology splits longer complex carbon molecules into simpler molecules at a temperature of 400 degreesC. These simpler molecules are then evaporated and precipitated inside a condenser as diesel oil or heating oil.

CLYVIA INC.

Walter P.W. Notter, Chief Executive Officer and President

This Press Release may contain, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on management's expectations and beliefs, and involve risks and uncertainties. These statements may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. In particular, in the event the private placement is not completed as contemplated, it may have a significant adverse effect on the liquidity, financial position and assets of the Company, which may affect its ability to complete its business plan.

Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release.

Contact Information

  • Clyvia Technology GmbH
    Dr. Manfred Sappok
    Managing Director
    02432-89 36 26
    02432-89 36 29 (FAX)
    02432-89 36 29