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ENVIRONMENTAL CLEAN TECHNOLOGIES LIMITED. — Capital/Financing Update 2016
Apr 27, 2016
64819_rns_2016-04-27_3ad5328a-d19e-4e52-9c55-fcd98a0507e4.pdf
Capital/Financing Update
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Repayment of Loan Facility
Thursday, 28 April 2016: Environmental Clean Technologies Limited (ASX: ESI) (ECT or Company) is pleased to provide the following update to shareholders.
The Company has repaid in full the ‘Fast Finance Follow-on’ loan facility arranged through Platinum Road. This repayment brings the Company’s debt level to zero.
Background
The Company previously announced (5 May 2015) the extension of its, then existing, Fast Finance loan facility by $1.2M, to be drawn in tranches of $300,000. The Company subsequently only drew the first $300,000 tranche of this $1.2M.
For further information, contact:
Ashley Moore – Managing Director [email protected]
About ECT
ECT is in the business of commercialising leading-edge energy and resource 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 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.
Suite 502, Level P5, 9 Yarra Street, South Yarra, VIC 3141 Australia | Phone +613 9939 4595 | www.ectltd.com.au | ABN 28 009 120 405 Listed on the Australian Stock Exchange (ASX:ESI)