Environmental Clean Technologies Limited (ASX:ESI) Completes A Capital Raising Of A$2.64 Million
Melbourne, Dec 3, 2009 AEST (ABN Newswire) - Environmental Clean Technologies Limited (ASX:ESI) is pleased to announce that it has completed a capital raising through a placement of new fully paid ordinary shares and listed options (Placement).
ECT raised A$2.64 million via the Placement to institutional, experienced and sophisticated investors. The issue price of the new shares under the placement was A$0.044 per share.
One listed option was issued for each 2 new shares subscribed for under the Placement.
Phillip Capital served as brokers for the placement.
Funds raised by the Placement have been earmarked for:
- Preparation of a detailed market analysis for Matmor and subsequent advance of this technology to a feasibility study for the construction of a 7,500 t.p.a. pilot plant
- Support of a more aggressive Coldry sales approach
- Working capital
These additional funds will also allow the company to keep up momentum in parallel flagship projects for Coldry, through the establishment of Special Purpose Vehicles with prospective licensees and the support of formal feasibility studies.
About Environmental Clean Technologies Ltd
Environmental Clean Technologies Limited (ASX: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.
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