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Microcap & Penny Stocks : Tokyo Joe's Cafe / Anything goes -- Ignore unavailable to you. Want to Upgrade?

To: Dana who wrote (10440)	4/23/1998 6:34:00 PM
From: Big Dog	Respond to of 34592

Glad I could help. BIG DOG

To: Dana who wrote (10440)	4/23/1998 10:45:00 PM
From: makin_dough99	Read Replies (1) \| Respond to of 34592

Metal Recovery Technologies (MRTI), 11/64, has satisfied all conditions of the previously announced financing in the form of a $3m Zero Coupon Secured Convertible Redeemable loan from Geneva, Switzerland-based Zinc Investments Inc. (ZII) to finance the upgrade and increased capacity of the Company's zinc-recovery plant at East Chicago, Indiana. MRTI announced on March 28th, 1998, that a conditional contract was signed with terms to be finalized within roughly 2 weeks. As part of the unconditional terms of the contract announced today, Metal Recovery will form a new wholly owned subsidiary called Zinc Recovery (East Chicago) Inc. to run the East Chicago Plant. ZII will be entitled to two (2) seats on the new BOD and MRTI will have 2 seats as well. The upgrading of the East Chicago plant will begin within 2 weeks and take approximately 12 to 16 weeks to complete. Once complete, potential dezincing capacity will increase approximately 50% to 110,000- to 120,000-tons per year giving the facility revenues of approximately $23m per annum.