VANCOUVER, BC, March 31, 2017 - Micron Waste Technologies (“Micron” or the “Company”) announces a non-brokered private placement of up to 4,000,000 Units at C$0.25 per Unit for gross proceeds of $1,000,000. Each Unit consists of one Common Share and one Common Share Purchase Warrant. One Common Share Purchase Warrant entitles the holder to purchase one Common Share at C$0.50 per share for a two (2) year term from closing. The units are subject to a 120-day hold period from closing.
Finder fees are payable. The Common Share Purchase Warrant is not transferrable and will subject to a standard Accelerated Exercise Clause.
The Company intends to use the proceeds of the Offering for capacity growth initiatives as well as general corporate and working capital purposes.
The securities mentioned herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. The securities mentioned herein have not been and will not be qualified for sale to the public under applicable Canadian securities laws and, accordingly, any offer and sale of the securities in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws. The securities mentioned herein will be offered and sold only to non-U.S. persons in reliance on the “accredited investor” prospectus exemption in Canada.
This press release does not constitute an offer to sell or purchase, or a solicitation of an offer to sell or purchase, any securities. No offer, solicitation, purchase or sale of securities will be made in any jurisdiction, in which such an offer, solicitation, purchase or sale would be unlawful.
About Micron Waste Technologies
Micron Waste Technologies is a leading organic waste technology company based in Canada. We provide R&D based innovative solutions for the organic waste management. Through our strength of R&D, we offer the best alternative solutions to the global food waste problem worldwide. Recently, Micron Waste Technologies has developed and commercialized a food waste disposal system for On-Site food waste treatment without the need of transportation or hauling of waste. Our technology protects environment, saves landfill space, reduces greenhouse gas emission, and above all saves money for the end-users.
On behalf of the Board of Directors,
President, Micron Waste Technologies Inc.
Notice Regarding Forward-Looking Statements
This news release contains forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Micron Waste Technologies to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Examples of such statements include future operational and production capacity, the impact of enhanced infrastructure and production capabilities, and forecasted available product selection. The forward-looking statements included in this news release are made as of the date of this news release and Micron Waste Technologies does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.