Thornbury Holdings Ltd.

November 07, 2014 18:59 ET

Thornbury Holdings Ltd. Files Early Warning Report

TORONTO, ONTARIO--(Marketwired - Nov. 7, 2014) - Thornbury Holdings Ltd. ("Thornbury") has filed an Early Warning Report dated as of November 7, 2014 advising of its acquisition of 6,000,000 common shares (the "Common Shares") in the capital of Environmental Waste International Inc. (the "Issuer") through a private placement. The acquisition of the Common Shares by Thornbury were acquired in reliance on the accredited investor exemption, as provided in section 2.3 - Prospectus Exemptions NI 45-106. The consideration paid by Thornbury was $0.10 per Common Share.

The Common Shares acquired by Thornbury represent approximately 4.4% of the issued and outstanding Common Shares of the Issuer on an undiluted basis (based upon the 135,518,128 Common Shares issued and outstanding following the completion of the private placement). Thornbury owns 20,276,786 Common Shares of the Issuer, representing 14.9% of the issued and outstanding Common Shares of the Issuer. Additionally, Thornbury owns 1,800,000 common share purchase warrants of the Issuer, and assuming exercise of the warrants, Thornbury will own a total of 22,076,786 common shares of the Issuer, representing approximately 16.0% of the issued and outstanding common shares of the Issuer.

The Common Shares of the Issuer were acquired by Thornbury for investment purposes. Thornbury may from time to time acquire additional shares or other securities of the Issuer, dispose of some or all of the existing or additional Common Shares or other securities of the Issuer, or continue to hold Common Shares or other securities in the normal course of its investment activities.

Thornbury is jointly controlled by Ian Russell, who owns 1,019,000 shares, and Ana Russell who owns 529,800 shares, of Calgary, Alberta. The registered address of Thornbury is 145 Valley Glen Hgts N.W., Calgary, Alberta, T3B 5S8.

For further information in connection with this news release, please find the Early Warning Report for Thornbury Holdings Ltd. as filed on SEDAR.

Contact Information

  • Thornbury Holdings Ltd.
    145 Valley Glen Hgts N.W.
    Calgary, Alberta
    T3B 5S8