Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : Earthworks EWK (VSE) -- Ignore unavailable to you. Want to Upgrade?

To: High Grader who wrote (107)	1/12/1999 2:46:00 PM
From: Dick Martin	Read Replies (2) \| Respond to of 120

New funding by private placements: EARTHWORKS INDUSTRIES INC. 1608 - 675 West Hastings Street Vancouver, B.C. V6B 1N2 Tel: (604) 669-3147; Fax: (604) 669-3107 NEWS RELEASE NO. 180 January 11, 1999 VSE: EWK-V Earthworks Industries Inc. (the "Company") has entered into a series of agreements to settle certain of its indebtedness and to raise additional funding by way of private placements - as follows: (a) The Company has struck private placement agreements for the sale of 500,000 Units at a price of $0.30 per Unit - to provide the Company with proceeds of $150,000 - less some finders' fees which have still to be negotiated. The Units will each consist of 1 share of the Company and 1 1-year share purchase warrant entitling the purchase of 1 additional share exercisable at $0.40 per share; (b) The Company has struck agreements with its principal creditors agreeing to settle an aggregate total of $128,600 by the issuance of 321,500 shares at an agreed price of $0.40 per share. With one creditor a further amount of $56,250 will be settled by the issue of 75,000 shares at a price of $0.75 per share. The Company has also agreed with the holders of its outstanding options - on a total of 576,000 shares - to reduce the option exercise price to $0.40 per share from $0.75 and $0.72 per share. The agreements referred to above are all subject to final documentation and to acceptance for filing by the Vancouver Stock Exchange. EARTHWORKS INDUSTRIES INC. Per: "David B. Atkinson" David B. Atkinson, President The Vancouver Stock Exchange assumes no responsibility for the accuracy of this Release and neither approves nor disapproves of the same.