MONTREAL, QUEBEC – October 31, 2017 – Ecolomondo Corporation (TSXV: ECM) (the “Company“), is pleased to announce that it has completed all conditions to listing and it has commenced trading on the TSX Venture Exchange (the “Exchange“) under the ticker symbol “ECM”.
On October 20, 2017, the Company completed the previously announced acquisition (the “Transaction“) of all of the issued and outstanding securities in the capital of Ecolomondo Corporation Inc. (“Ecolomondo”) by way of a reverse take-over, pursuant to which the Company acquired all outstanding shares of Ecolomondo for a price of $21,746,031 by issuing to Ecolomondo’s former shareholders 155,328,790 common shares of the Company at a price of $0.14 per common share, representing an exchange ratio of 5.5 common share in the share capital of the Company for each Ecolomondo common share held.
Further details regarding the Transaction are contained in the press releases of the Company dated January 20, 2017, March 21, 2017, October 3, 2017, October 17, 2017, October 24, 2017 as well as the Filing Statement dated August 18, 2017, which are all accessible on SEDAR.
About Ecolomondo Corporation
Ecolomondo is a development stage clean tech company that has designed, engineered and developed a thermo-reaction process using a pyrolytic platform that converts hydrocarbon waste into marketable commodity end-products, namely carbon black substitute, oil, gas and steel. Ecolomondo plans to manufacture turnkey facilities based on this technology platform and sell them to clients, and collect royalties from their operation, or operate them through wholly or jointly-owned subsidiaries.
Ecolomondo’s process is a Canadian developed green technology, called Thermal Decomposition Process, which is referred to as “TDP”. TDP is a comprehensive, effective and green solution that could achieve commercial acceptance while reducing the need to landfill. The TDP platform operates under positive pressure, in the absence of oxygen and with very low emissions. Ecolomondo considers its automated process to be safe, robust and environmentally friendly.
Ecolomondo believes its TDP process extracts added value from hydrocarbon waste, and more precisely scrap tires, when compared to other technologies and other methods of recycling. Ecolomondo anticipates an abundant and continuous supply of waste feedstock to be available due to the growing consumption by an expanding population, the emerging markets and changing environmental concerns and regulation, in particular, the need to reduce landfilling. Ecolomondo hopes to become an industry leader in the treatment of these types of hydrocarbon waste in a near future.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.
For further information, please contact:
Mr. Elio Sorella
President, Director and Chief Executive Officer, Ecolomondo Corporation