Business
Ecolomondo Releases Q3 2021 Interim Financial Statements and Provides Business Update
(TheNewswire) Montreal – TheNewswire - November 22 , 2...
About this update from Ecolomondo Corporation
[{"type":"text","content":"Ecolomondo Releases Q3 2021 Interim Financial Statements and Provides Business Update\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Montreal –\n \n \n TheNewswire\n-\n \n \n November\n \n \n 22\n \n \n , 2021\n \n \n \n Ecolomondo\nCorporation\n \n \n \n (TSXV:ECM) (the “\n \n \n Company\n \n \n ” or\n \n \n “\n \n \n Ecolomondo\n \n \n ”), a cleantech company\nspecializing in the development of proprietary Thermal\n \n \n Decomposition Process (“\n \n \n TDP\n \n \n ”) recycling\ntechnology and the commercialization of turnkey\n \n \n TDP facilities used to transform tires, plastics and other\nhydrocarbon waste into salable\n \n \n renewable\ncommodities,\n \n \n today\n \n \n releases\n \n \n the Company’s\n \n \n unaudited interim consolidated financial statements and\nrelated management discussion & analysis (“\n \n \n MD&A\n \n \n ”) for the\ninterim\n \n \n period ended September 30, 2021 (the\n“\n \n \n Interim Financial\nStatements\n \n \n ”).\n \n \n \n \n \n \n Financial and Business Updates:\n \n \n \n \n \n \n - During the month of September 2021, Ecolomondo raised\ngross proceeds of $4.0 million with a non-brokered private placement,\nconsisting of 6,153,845 units at a price of $0.65 per Unit. The\nCompany plans to allocate the proceeds to general working capital\npurposes and to the acceleration of the Company’s North American\nexpansion.\n \n \n \n \n \n \n \n \n - As of September 30, 2021, capital expenditures\ntotaled $35,763,953, predominantly for the Hawkesbury TDP facility,\nwhile the term loan from the Export Development Canada (\n \n \n “\n \n \n E\n \n \n DC\n \n \n ”) term loan was\nfully disbursed at $32,125,000.\n \n \n \n \n \n \n \n \n - During the quarter ended September 30, 2021, the\nCompany continued to market its TDP turnkey facilities. With the\nHawkesbury TDP facility approaching completion, the Company is\ncurrently in talks for the sale of several TDP turnkey facilities in\nNorth America.\n \n \n \n \n \n \n \n \n Hawkesbury Updates:\n \n \n \n \n \n \n - Hawkesbury project costs and cash flows remain within\nthe guidelines of loan covenants with Export Development Canada (EDC).\nAs of September 30, 2021, total estimated budget for the Hawkesbury\nTDP turnkey facility stands at a...