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EnviroLeach Fully Subscribes $5.347 Million Private Placement
December 22, 2020 | ACCESSWIREEstimated reading time: 1 minute
EnviroLeach Technologies Inc., is pleased to announce that its previously announced non-brokered private placement has been fully subscribed. The Company has received subscriptions for 17,825,001 units (each a "Unit") at a price of $0.30 per Unit for total gross proceeds of $5,347,500. The Company is proceeding with transaction closing which, due to administrative contraints associated with year end and holiday hours, is anticipated to be completed by December 30, 2020.
EnviroLeach's executive team and board of directors wish to thank investors for their support and interest in this pivotal funding, which is allows the Company to execute its multi-faceted business strategy. EnviroLeach is in position to increase operational throughput at its EnviroCircuit printed circuit board processing facility, and to drive adoption of its economic and environmentally sustainable innovations in the gold mining sector.
The proceeds of the Private Placement will be used for the acquisition of feedstock for Enviroleach's printed circuit board assembly processing facility, the continued development of the Company's technologies, and general working capital.
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities.
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