Business
Ecolomondo Announces Closing Of Private Placement And Early Warning Report
(TheNewswire) June 23, 2025, Montréal, Quebec – Ecolomondo Corporation ...
About this update from Ecolomondo Corporation
[{"type":"text","content":"Ecolomondo Announces Closing Of Private Placement And Early Warning Report\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n June 23, 2025, Montréal, Quebec –\n \n\n Ecolomondo Corporation\n \n\n (TSXV: ECM) (OTC: ECLMF) (the “\n \n\n Company\n \n\n ” or\n“\n \n\n Ecolomondo\n \n\n ”), a leading Canadian innovator in sustainable scrap tire\nrecycling technology,\n \n\n is pleased to announce\nthat it completed its previously announced non-brokered private\nplacement (the “\n \n\n Offering\n \n\n ”) for gross proceeds of\nC$500,000.13 from the sale of 3,100,776 units of the Company (each, a\n“\n \n\n Unit\n \n\n ”) at a price of C$0.16125 per Unit.\n \n\n\n\n Each Unit was comprised of one common share of the\nCompany (each, a “\n \n\n Common\nShare\n \n\n ”) and one common share purchase warrant\n(a “\n \n\n Warrant\n \n\n ”). Each Warrant entitles the holder to purchase one\nCommon\n \n\n S\n \n\n hare\n \n\n of\n \n\n the\n \n\n Company\n \n\n (each,\n \n\n a\n \n\n “\n \n\n Warrant\n \n\n Share\n \n\n ”)\n \n\n at\n \n\n a\n \n\n price\n \n\n of\n \n\n C$0.24\n \n\n at\n \n\n any\n \n\n time\n \n\n on\n \n\n or before that date which is 2 years\nafter the closing date of the Offering, provided that if the closing\nprice of the Common Shares on the TSX Venture Exchange is equal to or\ngreater than $0.35 for a period of 10 consecutive trading days, the\nCompany may accelerate the expiry date of the Warrants by\ndisseminating a press release within 7 calendar days after the\n10\n \n\n th\n \n\n trading day, and in such case the Warrants will expire on the\n30\n \n\n th\n \n\n day after the date on which such press release is disseminated.\n \n\n\n At the closing of the Offering, the Company paid Ventum\n \n Financial Corp.\n \n (“\n \n Ventum\n \n ”) a cash commission of $11,706.75, equal to 6.0% of\nthe gross proceeds of the Offering resulting from purchasers\nintroduced by Ventum. The Company plans to allocate the net proceeds\nfrom the Offering for projected capital expenditures and for general\nworking capital purposes to meet strategic objectives and commitments,\nincluding the acceleration of the production ramp-up of the new\nHawkesbury TDP ...