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ENVIRONMENTAL CLEAN TECHNOLOGIES LIMITED. — Capital/Financing Update 2007
Aug 6, 2007
64819_rns_2007-08-06_4e7763cf-174e-4d25-a1d7-6f91d753f24e.pdf
Capital/Financing Update
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ENVIRONMENTAL Clean Technologies LTD
6 August 2007
Company Announcements Office Australian Stock Exchange Limited
By e-Lodgement:
ABN 28 009 120 405
EQUITY LINE OF CREDIT
The directors of ESI are pleased to announce that they have accepted an Equity Line of Credit facility from a leading institution which is currently subject to Due Diligence.
Under the terms the Equity Line provider shall commit to purchase from ESI up to \$8,000,000 of quoted ordinary shares of the Company over the course of 36 months. The amount and timing of each placement shall be at the discretion of ESI, and there shall be no minimum or mandatory advance amount. In addition, there is no non-usage fee of any of the unused amount of the Equity Line.
More details on the Equity Line will be provided once the Due Diligence is completed.
The equity line will provide financial flexibility and enable the Company to continue with its commercialisation of the Coldry technology, further advancement of its other technology assets and provide general working capital.
Con Galtos Managing Director
For further information contact Con Galtos on 0413 747 077.