Environmental Clean Technologies Limited (ASX:ESI) Completes A Capital Raising Of A$2.64 Million
Melbourne, Dec 3, 2009 AEST (ABN Newswire) - Environmental Clean Technologies Limited (ASX:ESI) is pleased to announce that it has completed a capital raising through a placement of new fully paid ordinary shares and listed options (Placement).
ECT raised A$2.64 million via the Placement to institutional, experienced and sophisticated investors. The issue price of the new shares under the placement was A$0.044 per share.
One listed option was issued for each 2 new shares subscribed for under the Placement.
Phillip Capital served as brokers for the placement.
Funds raised by the Placement have been earmarked for:
- Preparation of a detailed market analysis for Matmor and subsequent advance of this technology to a feasibility study for the construction of a 7,500 t.p.a. pilot plant
- Support of a more aggressive Coldry sales approach
- Working capital
These additional funds will also allow the company to keep up momentum in parallel flagship projects for Coldry, through the establishment of Special Purpose Vehicles with prospective licensees and the support of formal feasibility studies.
About Environmental Clean Technologies Ltd
Environmental Clean Technologies Limited (ASX:ECT) bridges the gap between the current high emission reality and the zero-emission world of the future. ECT's technology aims to play a key role in the transitional pathway to net zero by utilising abundant low rank and waste fuel sources in a new, clean way. ECT's technology suite creates clean and reliable applications and products for the energy, agricultural and industrial sectors.
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