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EARTHWORKS CLOSES FULLY SUBSCRIBED $500,000 PRIVATE PLACEMENT - CORTINA UPDATE
EARTHWORKS CLOSES FULLY SUBSCRIBED $500,000 PRIVATE PLACEMENT - CORTINA UPDATE Canada N...
About this update from Earthworks Industries Inc
[{"type":"text","content":"\n\n\n\n EARTHWORKS CLOSES FULLY SUBSCRIBED $500,000 PRIVATE PLACEMENT - CORTINA UPDATE\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n TSX-V: EWK\n \n OTCQB: EAATF\n \n\n\n\n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n Jan. 23, 2025\n \n\n /CNW/ - Earthworks Industries Inc. (the \"Company\") is pleased to report that is has now closed its\n \n $500,000\n \n non-brokered Private Placement announced in a news release dated\n \n November 27, 2024\n \n . The Company initiated the sale of up to 10 million Units at\n \n $0.05\n \n per unit with a Warrant entitling the purchase of one additional share of the Company for\n \n $0.10\n \n , exercisable for 2 years.\n \n\n\n\n\n\n\n\n\n The second tranche closing is 5,900,000 Units for gross proceeds of\n \n $295,000\n \n . On\n \n December 19, 2024\n \n , a first tranche was announced to close 4,100,000 units for gross proceeds of\n \n $205,000\n \n .\n \n\n The Placement includes sales to three Directors of a total of 3,450,000 Units.\n \n\n With respect to the Unit sales, the Company will pay finders fees or commissions of 8% cash with respect to some of the placements totaling\n \n $13,600\n \n .\n \n\n The placements are subject to acceptance for filing by the TSX Venture Exchange.\n \n\n\n Cortina Update\n \n\n\n As previously disclosed the Company has filed a Complaint with the U.S. District Court of the Eastern District of\n \n California\n \n , against the United States Department of the Interior challenging the Bureau of Indian Affairs (\"BIA\") unlawful cancellation of the Lease held by its wholly owned U.S. subsidiary, Cortina Integrated Waste Management Inc. (CIWM). We are currently seeking judicial relief and reinstatement of our long-standing lease. The current legal process is expected to prove more expedient than alternative legal remedies while allowing for a timely resolution to this matter.\n \n\n The Company also wishes to thank our shareholders for their ongoing support during this challenging period, but we remain confident the Cortina Lease will be reinstated. Furthermore, as we...