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ENVIRONMENTAL CLEAN TECHNOLOGIES LIMITED. — Capital/Financing Update 2011
Dec 22, 2011
64819_rns_2011-12-22_d006b4f0-a95b-4871-90e0-4081a5e9033f.pdf
Capital/Financing Update
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Update: Shortfall Program
Friday, 23 December 2011: Environmental Clean Technologies Limited ( ECT or Company ) (ASX:ESI) advises the shortfall placement program following on from the Rights Issue covered by the Prospectus dated 26 August 2011 has closed today, 23 December 2011, to ensure compliance with ASX Listing Rule 7.2 Exception 2.
As of 23 December 2011 the Company will have allotted 363.3 million New Shares and 181.7 million New Options to raise $2.2 million of its target $3.8 million from the Rights Issue.
The Company will continue to pursue fund raising opportunities to meet its business objectives of completing the Design for Tender and pursue development of the Company’s technologies.
For Further Information Contact:
Mike Davies – Managing Director +61 3 9684 0888 or [email protected]
About ECT
ECT is in the business of commercialising leading-edge coal and iron making technologies, which are capable of delivering financial and environmental benefits.
We are focused on advancing a portfolio of technologies, which have significant market potential globally.
ECT’s business plan is to pragmatically commercialise these technologies and secure sustainable, profitable income streams through licencing and other commercial mechanisms.
About Coldry
When applied to lignite and some sub-bituminous coals, the relatively simple Coldry beneficiation process produces a black coal equivalent (BCE) in the form of pellets. Coldry pellets have equal or superior energy value to many black coals and produce lower CO2 emissions than raw lignite.
About MATMOR
The MATMOR process has the potential to revolutionise primary iron making.
MATMOR is a simple, low cost, low emission, production technology, utilising the patented MATMOR retort, which enables the use of cheaper feedstocks to produce primary iron.
Level 8, 530 Little Collins Street, Melbourne Vic, 3000 Australia | Phone +613 9684 0888 | www.ectltd.com.au | ABN 28 009 120 405 Listed on the Australian Stock Exchange (ASX:ESI)