Ecoloclean Industries, Inc. Secures $500,000 Through Private Placement
July 07 2004 - 11:45AM
PR Newswire (US)
Ecoloclean Industries, Inc. Secures $500,000 Through Private
Placement CRYSTAL CITY, Texas, July 7 /PRNewswire-FirstCall/ --
Ecoloclean Industries, Inc. (OTC:ECCI) (BULLETIN BOARD: ECCI)
announced today that it has received $500,000 through a private
placement of restricted Rule 144 shares of its common stock with
Geneva, Switzerland based Margaux Investment Management Group S.A.,
a privately held investment group. The private placement calls for
Ecoloclean to issue one million Rule 144 restricted common shares
to Margaux Investment Management Group, S.A. Ecoloclean has
earmarked this money for expansion of services, equipment,
personnel and office space. Past and continuing field tests for the
Company's patented mobile electrocoagulation units have produced
consistent and impressive results and have garnered interest from
companies in industries ranging from oil and gas, agriculture,
paper production and water regulation. The mobility and excellent
performance of their product makes Ecoloclean a prime candidate to
become a leader in the niche market for removal of liquid and solid
waste contaminants. Royis Ward, President and CEO of Ecoloclean
Industries, Inc., stated, "The exceptionally positive comments and
feedback we have received about our product from well-known
agencies and businesses in a variety of industries is not only
gratifying, but motivates us to implement an aggressive marketing
plan for our patented electrocoagulation process. This injection of
cash from Margaux will enable us to continue to develop and expand
business opportunities as we market our mobile electrocoagulation
units to several different industries. We expect the results of our
latest testing processes to translate into contractual agreements
in the near term and will facilitate our resume for future
projects." About Ecoloclean Industries, Inc. Ecoloclean Industries,
Inc. is the parent company of two wholly owned subsidiaries, World
Environmental Technologies, Inc. and Reliant Drilling Systems, Inc.
Utilizing their patented electrocoagulation system, Ecoloclean
Industries provides environmental waste remediation to treat and
remove impurities in discharge water and other contaminated and/or
polluted liquids and solids. This press release may be deemed to
contain certain Forward-Looking Statements with respect to the
Company that are subject to risks and uncertainties that include,
but are not limited to, those identified in the Company's press
releases or discussed from time to time in the Company's Securities
and Exchange Commission Filings. Actual results may vary. Investor
Contact: Barry Gross Gross Capital, Inc. 361-949-4999 DATASOURCE:
Ecoloclean Industries, Inc. CONTACT: investors, Barry Gross of
Gross Capital, Inc., +1-361-949-4999, or Web site:
http://www.ecoloclean.com/
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