Ecolomondo Announces the Grant of Stock Options to Purchase 2,250,000 Common Shares

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(TheNewswire)



  

Montreal – TheNewswire - February 14, 2020 Ecolomondo Corporation (TSXV:ECM) (the "Company" or “Ecolomondo”) announces that pursuant to the Company's Stock Option Plan, the Company has granted stock options (the "Options") to certain directors, officers and employees to purchase an aggregate of 2,250,000 common shares (the "Optioned Shares") of the Company at an exercise price of $0.30 per Optioned Share for a period of ten years. Subsequent to the grant of such Options, an aggregate amount of 2,384,039 common shares of the Company remains available for issuance under the Company’s stock option plan, as approved by the shareholders of the Company during the last Company’s annual general meeting held on May 29, 2019.

 

About Ecolomondo Corporation

 

Ecolomondo 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.

 

Management believes that technological breakthroughs in areas of emissions, process optimization, automation, end-product processing and safety, position Ecolomondo to become an industry leader.

 

The 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 feedstock, because scrap tires yield end-products with a higher commercial value, especially the recycled carbon black.

 

Cautionary Note Regarding Forward Looking Statements

 

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although Ecolomondo believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, Ecolomondo disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.

 

For further information please contact:

Elio Sorella,

Chairman and Chief Executive Officer, Ecolomondo

Tel: (450) 587-5999

esorella@ecolomondocorp.com

www.ecolomondo.com

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

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