Business
Ecolomondo Announces Fully Subscribed LIFE Offering
(TheNewswire) Montreal, Quebec – TheNewswire - May 2, 2025 – Ecol...
About this update from Ecolomondo Corporation
[{"type":"text","content":"Ecolomondo Announces Fully Subscribed LIFE Offering\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 Montreal, Quebec –\n \n\n TheNewswire\n-\n \n\n May 2, 2025 –\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 ”),\n \n a leading Canadian innovator in sustainable\nscrap tire recycling technology,\n \n is pleased to announce\nthat further to its press release dated April 30, 2025, its private\nplacement pursuant to the “listed issuer financing exemption”\nunder Part 5A of NI 45-106 –\n \n\n Prospectus Exemptions\n \n\n (the “\n \n\n Listed Issuer Financing\nExemption\n \n\n ”) of up to 6,201,550 units (the\n“\n \n\n Units\n \n\n ”) of the Company for gross proceeds of C$1.0 million\n(the “\n \n\n LIFE\nOffering\n \n\n ”) has been fully subscribed.\n \n\n\n\n Each Unit will consist 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 shall entitle 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 LIFE Offering, provided that if the\nclosing price of the Common Shares on the TSX Venture Exchange is\nequal to or greater than $0.35 for a period of 15 consecutive trading\ndays, the Company may accelerate the expiry date of the Warrants by\ndisseminating a press release within 7 calendar days after the\n15\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\n Because the LIFE Offering is being conducted pursuant\nto the Listed Issuer Financing Exemption, the Units issued pursuant to\nthe LIFE Offering will not be subject to a hold period pursuant to\napplicable Canadian securities laws if sold to purchasers resident in\nCanada. There is an offerin...