EARTHWORKS - NORTH BAY UPDATE

About this update from Earthworks Industries Inc

[{"type":"text","content":"\n \n \n \n EARTHWORKS - NORTH BAY 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 \n \n \n \n OTCQB: EAATF\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n June 24, 2024\n \n \n /CNW/ - Earthworks Industries Inc. (the \"Company\") is pleased to provide the following update on its loan Buy-Out Option progress with North Bay Corporation (NB).\n \n \n \n \n \n \n \n \n \n The Company continues to move ahead on the development of its integrated waste handling project (\"the Project\") on the Cortina Rancheria in\n \n Colusa County, California\n \n . The Project is being developed by the Company's wholly owned U.S. subsidiary, Cortina Integrated Waste Management Inc. (\"CIWM\")\n \n \n With federal approval, CIWM holds a lease of 443 acres of the Kletsel Dehe Wintun Nation's Cortina Rancheria for the development of an integrated waste handling operation, which includes a material recovery system, composting, soil decontamination, and landfill operations.\n \n \n Following up on our News Release dated\n \n April 12, 2024\n \n , the Company wishes to report that the TSX Venture Exchange has accepted for filing the Extension Agreement, dated\n \n April 10, 2024\n \n .\n \n \n Under the terms of the Extension Agreement with North Bay Corporation, the Company reduced the buyout amount by\n \n $500,000\n \n U.S., by issuing 2,887,000 Units at a deemed value of\n \n $0.235 CDN\n \n . Each Unit consists of one fully paid voting common share of the Company and a share purchase warrant, which is exercisable until\n \n October 30, 2025\n \n , to purchase one fully paid voting common share of the Company for\n \n $0.40\n \n . The Buy-out amount which has now been reduced to\n \n $1.65-million\n \n U.S., will be payable no later than\n \n November 15, 2024\n \n , including accrued interest.\n \n \n Mr.\n \n David Atkinson\n \n , President & CEO of Earthworks Industries commented \"We are pleased to see North Bay Corporation expressing additional confidence for the future of the Project by continuing to increase...

More updates from Earthworks Industries Inc