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Ecolomondo announces that the parties have ended discussions regarding the acquisition of Gestion Transport Lyon Inc.
Ecolomondo announces that the parties have ended discussions regarding the acquisition of ...
About this update from Ecolomondo Corporation
[{"type":"text","content":"\n\n\n\nEcolomondo announces that the parties have ended discussions regarding the acquisition of Gestion Transport Lyon Inc.\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL, April 29, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n MONTREAL, April 29, 2019 /CNW Telbec/ - Ecolomondo Corporation (TSXV: ECM) (the \"Company\" or \"Ecolomondo\") announces today that it will not proceed with the contemplated acquisition of Gestion Transport Lyon Inc. (\"Transport Lyon\"), as previously announced by the Company by press release dated March 15, 2019, announcing the entering into a conditional purchase offer with Transport Lyon, to be supplemented by a definitive purchase agreement. \n\n \n \n\n \nThe Company and Transport Lyon did not manage to reach satisfactory terms to be included in such definitive purchase agreement, in accordance with the conditions of the previously executed conditional purchase offer. \nThe cancellation of the contemplated acquisition of Transport Lyon is expected to have minimal financial impact on the Company, if any. \nAbout Ecolomondo Corporation\nEcolomondo is a cleantech Canadian company that is commercializing its waste-to-products technology. The Thermal Decomposition Process (\"TDP\") converts hydrocarbon waste into marketable commodity end-products, namely carbon black substitute, oil, gas and steel. Technologies such as Ecolomondo's are expected to play an important role in resource recovery needed in today's circular economy. \nManagement believes that technological breakthroughs in areas of emissions, process optimization, automation, end-product processing and safety, position Ecolomondo to become an industry leader. \nThe Company's main revenues will come from the sale of TDP turnkey facilities and royalties from their operations. TDP facilities will generate revenues from the sale of end-products, tipping fees and carbon credits. Ecolomondo's first focus is to market TDP turnkey facilities that use scrap tires as a fe...