IWS Announces Private Placement Financing
– Momentum Public Relations –
Press Release: December 1, 2016
International Wastewater Systems Inc. (the “Company”) (CSE:IWS)(FRANKFURT:IWI)(OTC PINK:INTWF) is pleased to announce a private placement of common shares for gross proceeds of up to $4,050,000 at a price of $0.30 per share (the “Placement”).
The Placement will be offered in two tranches. The first tranche consists of a non-brokered private placement of up 5,000,000 shares at a price of $0.30 per share for gross proceeds of up to $1,500,000 (“Non-Brokered Tranche”). The second tranche consists of a brokered private placement of up to 8,500,000 shares at a price of $0.30 for gross proceeds of up to $2,550,000 (“Brokered Tranche”). Investor warrants will not be issued in the Placement.
The Company has engaged Haywood Securities Inc. (“Haywood”) to lead the Brokered Tranche on a best efforts basis. A cash commission equal to 7.5{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the gross proceeds of the Brokered Tranche, and broker’s warrants equal to 7.5{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the number of shares placed under the Brokered Tranche will be payable to Haywood, along with a work fee of $15,000. The Company will grant Haywood an option, exercisable in whole or in part to sell up to an additional 15{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the proposed Brokered Tranche. Fees will also be payable in connection with the Non-Brokered Tranche.
All securities distributed pursuant to the Placement will be subject to a statutory hold period of four months and a day from the date of issuance. The Placement will not be offered in the United States. Closing of the Placement is subject to receipt of all necessary regulatory approvals.
The Company intends to use proceeds from the Placement to fulfill its pipeline of projects in Canada, the United States, Scotland, England, Australia and China, and for general corporate purposes.
ON BEHALF OF THE BOARD
Lynn Mueller, Chairman and Chief Executive Officer
About International Wastewater Systems Inc.
International Wastewater Systems Inc. is a world leader in thermal heat recovery. IWS systems recycle thermal energy from wastewater, generating the most energy efficient and economical systems for heating, cooling & hot water for commercial, residential and industrial buildings. IWS is publicly traded in Canada (CSE:IWS), the United States (OTC PINK:INTWF) and Germany (FRANKFURT:IWI).