MONTREAL – Earth Alive Clean Technologies Inc. (TSXV: EAC), a Canadian soil health company that develops and manufactures advanced microbial technology products, today announced the closing of a non-brokered private placement for gross proceeds of $5 million.
“The Offering book was primarily comprised of European businesspersons and investors, directly or through related entities, including Messrs. Robert Taub, Eric Swenden, Christian Dumolin, Juergen Hambrecht, Vladimir Cardon de Lichtbuer and Nikolaos Sofronis,” said Michael Warren, President and CEO of Earth Alive. “Our new shareholders have strong business relationships in Europe, across the Atlantic and around the globe. With their support and these additional financial resources, we believe that Earth Alive is better positioned than ever to capitalize on its substantial pipeline of tangible, near term business opportunities.”
The corporation intends to use the net proceeds from the offering to grow the size of its team, to fund operational projects and the growth of the business, and for general corporate purposes.
Earth Alive aims to be a key player in world markets of environmentally sustainable industrial solutions. The company works with the latest innovations in microbial technology to formulate and patent innovative products that can tackle the most difficult industrial challenges, once only reserved to environmentally harmful chemicals and additives. The company is focused on environmental sustainability in the agriculture industry and dust control for the mining industry.
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