Environmental Waste International Inc.

Environmental Waste International Inc.

October 08, 2010 18:24 ET

EWS Repays Debt and Negotiates New Loan Agreements

AJAX, ONTARIO--(Marketwire - Oct. 8, 2010) - Environmental Waste International Inc. (EWS) (TSX VENTURE:EWS) has repaid its $515,000 in 12% loans due September 30, 2010. The Company has new agreements for $497,000 of 10% 18 month term loans subject to TSX Venture Exchange approval. At the Company's option, the loans can be repaid after six months and are convertible into common shares at $0.35 a share. The $497,000 in loans is convertible into 1,420,000 common shares. EWS's five directors and a relative of the company's President participated in the new loan.

EWI designs and builds systems for the breakdown of certain organic wastes (including rubber tires, medical waste, biological effluents and food) 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