Environmental Waste International Inc. announced a private placement of 25,000,000 units at an issue price of CAD 0.02 per unit for the aggregate gross proceeds of up to CAD 500,000 on December 19, 2023. Each unit consists of one common share and one share purchase warrant. Each warrant expires two years from the closing and has an exercise price of CAD 0.05.

The company intends to close an additional private placement in Quarter 1, 2024. The company has received firm commitments of CAD 200,000 for the December 2023 Financing to date. Management believes that on or around May 30, 2024, working capital will be over CAD 250,000 and the company?s cash position is expected to be almost CAD 1 million, which will allow for the continued expansion of the Sault Ste.

Marie plant upgrade. No broker or finder fees are anticipated to be paid in connection with the financing. All securities issued pursuant to the financing will be subject to four months and a day statutory hold period.

The financing is subject to TSX Venture Exchange acceptance of regulatory filings.