Forterra Environmental Corp. Announces $2.502 Million Private Placement
June 27 2008 - 2:40PM
Marketwired
CONCORD, ONTARIO (TSX VENTURE: FTE) announced that it has agreed
to engage Euroglobal Capital Partners Inc. to act as agent (the
"Agent") for a private placement of up to 16,680,000 units at $0.15
per unit, for total proceeds of up to $2,502,000. Each unit will
consist of one common share and one-half of one common share
purchase warrant. The common share purchase warrants are
exercisable for 24 months following closing at an exercise price of
$0.25 each.
The proceeds of the private placement will be used for working
capital purposes. The closing of the private placement is expected
to take place on July 8, 2008 and is subject to regulatory
approval.
As part of its remuneration, the Agent will receive warrants to
purchase units equal to 7% of the units issued under the offering.
Those warrants are exercisable at $0.15 each for a period of 24
months following closing.
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.
Contacts: Forterra Environmental Corp. Donald Green Chairman
(905) 634-8647 Email: green@forterra.com
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