Environmental Waste International Inc.: New Director and Convertible Loan
Posted on: Wednesday, 9 November 2005, 15:00 CST
Environmental Waste International Inc. ("EWI")(TSX VENTURE:EWS) is pleased to announce that Sam Geist has agreed to join its board of directors subject to regulatory approval. Mr. Geist is the founder and owner of Geist & Associates Inc., a well known marketing and business-consulting firm which works with managements to facilitate corporate growth by helping companies realize their potential through better strategic planning, marketing and operations. Mr. Geist brings a wealth of business experience that EWI will rely on as it continues to expand its product lines.
The Company also announced that it has repaid a $430,000 loan from certain parties, including two of the company's directors. Subject to TSX Venture exchange approval, EWI has arranged a new loan of $430,000 from four parties, including three of the company's directors (W. Bateman, H. Hungerland and K. Van Beek) and a relative of the company's president. The loan is for 24-months and has an interest rate of 12% paid monthly. The loan carries a two-year option to convert any portion up to the full value into common shares at $0.25 per share. If converted a maximum of one million seven hundred and twenty thousand common shares would be issued.
EWI has designed and built processors for the decontamination of liquid waste from biocontainment facilities, for the sterilization and safe disposal of medical waste and for the pretreatment and sterilization of organic food waste for prolonged storage and disposal. Please visit EWI's home page at: www.ewi.ca
WARNING: The Company relies upon litigation protection for "forward -looking" statements.
Shares Issued: 63,308,324
Environmental Waste International Inc. (TSX VENTURE:EWS)
Source: Business Wire
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