|By Marketwired .||
|January 22, 2014 04:26 PM EST||
AJAX, ONTARIO -- (Marketwired) -- 01/22/14 -- Environmental Waste International Inc. ("EWS") (TSX VENTURE: EWS) (the "Company") announces that it has received conditional approval from the TSX Venture Exchange to amend the terms of 3,000,000 common share purchase warrants issued on January 30, 2012 (the "Warrants"). Each Warrant entitled the holder to acquire one common share of the Company at an exercise price of $0.50 for a period of two years. The amendment will result in 2.9 million of the Warrants being cancelled with the remaining 100,000 Warrants being amended such that the exercise price will be reduced to $0.21 and the expiry date will be extended to January 30, 2016. Notwithstanding the foregoing, if the closing price of the Company's common shares on the TSX closes at $0.25 or higher for ten consecutive trading days, the expiry of the Warrants will be accelerated to the 30th day following such occurrence. All holders of the Warrants have consented to the amendment.
About Environmental Waste International Inc.
Environmental Waste International, Inc. specializes in eco-friendly systems for the breakdown of organic materials, including tires. EWS has spent over 15 years engineering systems that integrate the EWS patented Reverse Polymerization process and proprietary microwave delivery system. EWS's unique microwave technology safely processes and recycles waste tires, while creating a highly valuable commodity output for industry, including carbon black, oil and steel. Each unit is designed to be energy efficient and where possible, create an economically positive model for the recovery of various hydrocarbon oil and gases. For more information please visit, www.ewi.ca.
This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with the Company's business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect the Company's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks and Uncertainties" in the Company's most recent Management Discussion & Analysis, which can be found on the Company's profile at www.sedar.com. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.