June 19, 2008 16:22 ET

Forterra Announces Bridge Loan

TORONTO, ONTARIO--(Marketwire - June 19, 2008) - Forterra Environmental Corp. (Forterra) (TSX VENTURE:FTE) announced that it intends to borrow $50,000 from a director of the corporation for working capital purposes.

The loan will become due and payable on July 15, 2008 with interest calculated at 16% per annum and payable on the due date. Forterra has agreed to issue 70,175 bonus shares to the lender. The bonus shares have a deemed price of $0.1425 per share. The loan is to be secured against the assets of Forterra and its subsidiary, Forterra Inc.

Forterra expects to repay the loan with proceeds of a private placement. Forterra is in discussions with potential investors but the terms of the private placement have not been settled.

About Forterra Environmental Corp.

Forterra Environmental Corp. is an emerging leader in the production and marketing of premium organic soil enrichment products. These environmentally friendly products boost fertility while replenishing the soil with organic matter, using worm castings, for sustainable, long-term benefits, including stronger root growth and drought and pest resistance. Forterra is the first company to commercialize the indoor, large-scale production of totally organic soil-enrichment products. Forterra uses red wriggler worms to convert organic waste into vermicompost or worm castings. Worm castings contain micronutrients, which are required for healthy plant development. Worm castings also contain microbes, which increase the rate at which plants take up available macronutrients and micronutrients.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Forterra Environmental Corp.
    Donald Green
    Chairman and Chief Executive Officer
    (905) 634-8647