Earthworks undertakes $450,000 unit private placements
April 19, 2012
Earthworks Industries Inc. (“Earthworks”) is doing private placement sales of 1,500,000 Units at $0.30 per Unit – to provide the Company with gross proceeds of $450,000. Each Unit will consist of 1 share of Earthworks and one-half of a share purchase warrant. A whole warrant will be exercisable to purchase 1 additional Earthworks share for $0.45 for 2 years. Earthworks anticipates paying commissions with respect to some of the placements.
The placements are subject to final documentation and acceptance for filing by the TSX Venture Exchange. The funds are being raised for operating capital and to pay the ongoing costs of securing permitting for Earthworks’ Cortina integrated waste management facility and landfill in Colusa County, California.
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