Thermal Energy International Inc.
TSX VENTURE : TMG

Thermal Energy International Inc.

May 18, 2006 15:44 ET

Thermal Energy Files Amendment to Warrant Exercise Price

OTTAWA, ONTARIO--(CCNMatthews - May 18, 2006) - Thermal Energy International Inc. (TSX VENTURE:TMG) (the "Company," www.thermalenergy.com) has filed a pricing amendment with the TSX Venture Exchange for warrants issued June 3, 2005.

Subject to approval by the Exchange, the exercise price for the warrants will be set at $0.35 for both Year 1 and Year 2 of the exercise period which expires June 3, 2007. No change is being made to the exercise period expiry date. The amendment affects the 3,333,666 warrants issued in a private placement previously announced on May 24, 2005, none of which have been exercised at this time.

About Thermal Energy

Thermal Energy International Inc. is an innovative technology company providing custom energy and emission reduction solutions. Headquartered in Ottawa, Canada, TEI is a designer, design build developer, fabricator, and supplier of proprietary and patented energy conservation, renewable energy and environmental technology solutions. Thermal Energy is a fully accredited professional engineering firm, and offers advanced process and applications engineering services. FLU-ACE®, THERMALONOx™ and THERMALOZOMAx™ are trademarks of Thermal Energy International. GEM® is a trademark used under exclusive license from Gardner Energy Management Ltd. (www.gemtrap.com)

To find out more about Thermal Energy International Inc. (TSX-V: TMG), visit our website at www.thermalenergy.com.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • Thermal Energy International Inc.
    Stuart McCarthy
    Investor Relations and Communications
    (613) 723-6776 x 220 or (613) 762-4321 (cell phone)
    stuart.mccarthy@thermalenergy.com