Business
Eliot Sorella, Chief Executive Officer and Chairman of Ecolomondo Exercises Additional Stock Options
(TheNewswire) Montreal, QC – TheNewswire - August 17, 2022 -- Ecol...
About this update from Ecolomondo Corporation
[{"type":"text","content":"Eliot Sorella, Chief Executive Officer and Chairman of Ecolomondo Exercises Additional Stock Options\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 Montreal, QC –\n \n \n TheNewswire -\n \n \n August 17, 2022 --\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 cleantech company specializing in the development of\nproprietary recycling technology, Thermal Decomposition Process\n(“\n \n \n TDP\n \n \n ”) and the commercialization of turnkey TDP facilities,\ntoday announces that its\n \n \n Chief Executive\nOfficer, Chairman and controlling shareholder, Mr. Eliot Sorella, has\nexercised approximately $500,000 worth of stock options (the\n“\n \n \n Options\n \n \n ”), in the form of 1,428,571 Options exercised at a price\nof $0.35 per share.\n \n \n \n \n As announced in its press release dated July 12, 2022,\nMr. Sorella has now exercised a total of $1,000,000 worth of Options\nfor estate purposes, all to the benefit of the Company’s working\ncapital.\n \n \n \n \n Prior to the completion of this second exercise, Mr.\nSorella had ownership or control of 139,800,474 common shares in the\ncapital of the Company, representing approximately 75.52% of the\nissued and outstanding share capital of the Company. Following\ncompletion of the exercise Mr. Sorella has ownership or control of\n141,229,045 common shares in the capital of the Company, representing\napproximately 75.70% of the issued and outstanding share capital of\nthe Company.\n \n \n \n \n About TDP Technology\n \n \n \n \n \n \n \n Thermal Decomposition Process technology is a\nproprietary waste-to-resources technology that the Company expects\nwill play a critical role in the development and proliferation of the\ncircular economy. TDP is a closed loop, slow pyrolysis technology that\noperates in an oxygen-free environment using positive pressure and a\nbatch rotary reactor. The process is largely energy self-sufficient.\nEcolomondo’s exclusive automation system allows for strict control\nof cycle times, processing parameters and consistent batch production,\nresulting in quality, commercial-grade recycled commodities and\nend-products.\n \n \n \n \n About Ecolomondo C...