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Environmental Waste International Inc. Closes Previously Announced Financing Totaling $1,721,250

/EINPresswire.com/ -- AJAX, ONTARIO--(Marketwired - May 4, 2017) - Environmental Waste International Inc. (TSX VENTURE:EWS) (the "Company" or "EWI"), a company specializing in eco-friendly systems with proven patented technology for the breakdown of organic materials, today announced that it has received TSX Venture approval and has closed the previously announced financing raising gross proceeds of $1,721,250 with certain amendments to the terms of the financing. The terms of the convertible note (the "Note") set out on the Company's May 1, 2017 press release have been modified and the Note will now mature 5 years from the date of issue. Additionally, the investor will receive one common share purchase warrant (a "Warrant") for every common share of the Company purchased in such financing for a total of 3,712,500 Warrants. Each Warrant will entitle the holder to acquire one common share of the Company at an exercise price of $0.11 for a period of five years.

EWI Investors, LLC (the "Investor") was the sole purchaser of securities in the financing. Immediately prior to the completion of the financing, the Investor held 5,000,000 common shares of the Company, representing approximately 3.2% of the outstanding common shares of the Corporation. After completion of this financing, the Investor will hold (a) 8,712,500 common shares, representing approximately 5.3% of the Company's outstanding common shares, and (b) 3,712,500 Warrants, representing approximately 96% of the Company's outstanding Warrants. Assuming full conversion of the Note and the exercise of all 3,712,500 Warrants, the Subscriber would hold 24,697,727 common shares, representing approximately 13.8% of the Company's outstanding common shares. The securities were acquired by the Investor for investment purposes. The Investor may from time to time acquire additional shares or other securities of the Company, dispose of some or all of the existing or additional securities of the Company, or continue to hold common shares or other securities in the normal course of its investment activities. Robert Savage, a director of the Company, is an insider of the Investor. An early warning report relating to the securities purchased by the Subscriber will be available on www.sedar.com under the Corporation's profile.

About Environmental Waste International Inc.

Environmental Waste International, Inc. specializes in eco-friendly systems for the breakdown of organic materials, including tires. EWS has spent over 15 years engineering systems that integrate the EWS patented Reverse Polymerization™ process and proprietary microwave delivery system. EWS's unique microwave technology safely processes and recycles waste tires, while creating a highly valuable commodity output for industry, including carbon black, oil and steel. Each unit is designed to be energy efficient and where possible, create an economically positive model for the recovery of various hydrocarbon oil and gases. For more information please visit, www.ewi.ca.

Forward-Looking Statements

This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with the Company's business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect the Company's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks and Uncertainties" in the Company's most recent

Management Discussion & Analysis, which can be found on the Company's profile at www.sedar.com. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Environmental Waste International Inc.
Bob MacBean
CEO
(905) 686-8689 or (800) 399-2366
Bob.macbean@ewmc.com
www.ewi.ca
Mr. Robert F. Savage
Managing Member of EWI Investors, LLC
212.710.5070
rsavage@feruscapital.com

Distribution channels: Environment, Waste Management