Environmental Waste International Inc.
TSX VENTURE : EWS

Environmental Waste International Inc.

December 01, 2015 17:00 ET

Environmental Waste International Inc. - Various Matters

AJAX, ONTARIO--(Marketwired - Dec. 1, 2015) - Environmental Waste International Inc. ("EWS") (TSX VENTURE:EWS) (the "Company"), a company specializing in eco-friendly systems with proven patented technology for the breakdown of organic materials, announced today that EWS directors, Emanuel Gerard, Samuel Geist and Valdis Martinsons, collectively, hold $84,000 in principal amount of 8% debentures that matured on April 30, 2015 (the "Debentures"). To date, no action has been taken by Messrs. Gerard, Geist and Martinsons to enforce the debentures and each has agreed with EWS to extend the maturity of the Debentures to April 30, 2017. In consideration for the extension, EWS has issued one common share purchase warrant for each dollar of principal owing under the Debentures. Each warrant is exercisable at $0.20 per common share of EWS at any time on or before April 30, 2017. A total of 84,000 warrants were issued. Mr. Gerard and Mr. Geist each received 24,500 warrants and Mr. Martinsons received 35,000 warrants. The TSXV issued a conditional approval letter on the warrant extension, subject to it being disclosed in a Press Release.

The Company also issued 500,000 stock options with an exercise price of $0.10 per share to Bob MacBean, CEO and Director. The options vest over three years and will expire on November 24, 2020.

Subject to TSXV approval the company will issue 95,400 warrants to purchase EWS common stock at $0.10 per share. The warrants will expire on April 15, 2017. The warrants will be issued to certain holders of a second mortgage (the "Holders") on a building owned by a wholly owned subsidiary of EWS. The warrants are being issued to the Holders for deferring $31,800 in interest payments. These Holders have agreed to delay payment until January 15, 2016. Tom Russell, a director of EWS has deferred $27,000 and will receive 81,000 warrants.

About Environmental Waste International Inc.

Environmental Waste International, Inc. specializes in eco-friendly systems for the breakdown of organic materials, including tires. EWS has spent over 15 years engineering systems that integrate the EWS patented Reverse Polymerization™ process and proprietary microwave delivery system. EWS's unique microwave technology safely processes and recycles waste tires, while creating a highly valuable commodity output for industry, including carbon black, oil and steel. Each unit is designed to be energy efficient and where possible, create an economically positive model for the recovery of various hydrocarbon oil and gases. For more information please visit, www.ewi.ca.

Forward-Looking Statements

This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with the Company's business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect the Company's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks and Uncertainties" in the Company's most recent Management Discussion & Analysis, which can be found on the Company's profile at www.sedar.com. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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