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ENVIRONMENTAL CLEAN TECHNOLOGIES LIMITED. — Capital/Financing Update 2007
Sep 4, 2007
64819_rns_2007-09-04_ca412474-2308-469c-b96d-d7010a71abfd.pdf
Capital/Financing Update
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Environmental Clean Technologies Limited
ABN 28 009 120 405
5 September 2007
$15M Equity Line of Credit
The Managing Director of Environmental Clean Technologies Ltd (ASX:ESI), Mr Con Galtos, announced today that the company had finalised a $15M equity line of credit for three years with Fortrend Securities.
Mr Galtos said, “I would like to commend Michael Sullivan and Fortrend Securities for the efficient and business like manner that they demonstrated in understanding our business and providing us the equity facility during the last few weeks. The ECT team is now able to totally focus its attention on the implementation of its ’Go To Market‘ strategy. Our Coldry© process is now in the global marketplace and positive negotiations with a number of national and international companies regarding their use of our technology are proceeding.”
Mr Michael Sullivan of Fortrend said, "We are excited to work alongside the management of Environmental Clean Technologies as they continue their progress on the commercialisation of the Coldry and Matmor processes. It is with great pleasure that we were able to finalise the A$15m Standby Subscription Agreement, and we look forward to working closely with management over the next few years".
For further information kindly contact Con Galtos 0413 747 077
Level 13 222 Kingsway South Melbourne Victoria 3205 Australia +61(0)3 6984080 www. etcltd.com.au