Environmental Clean Technologies Limited (ASX:ESI) Proposed Issue Of US$2,500,000 Convertible Notes To La Jolla Cove Investors, Inc.
Environmental Clean Technologies Limited (ECT or Company) (ASX:ESI) wishes to announce it is currently in advanced discussions with La Jolla Cove Investors, Inc. in respect of a financing arrangement which is expected to be implemented in late October 2010. Under the agreement governing the financing arrangement, the Company will issue a series of convertible notes to La Jolla Cove with a total issue price of up to US$2,500,000.