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Gold/Mining/Energy : Eco Logic Company ( ELI ECO ) Update -- Ignore unavailable to you. Want to Upgrade?

To: Wai Lam who wrote (265)	5/12/1999 8:07:00 AM
From: J. Kerr	Read Replies (1) \| Respond to of 340

ELI announces that rights offering was fully subscribed. At least this gives ELI a window of time within which to try to secure some ongoing revenue to become a self-sustaining operation. "NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: ELI ECO LOGIC INC. TSE SYMBOL: ELI MAY 11, 1999 Eco Logic Announces Successful Completion of Rights Offering ROCKWOOD, ONTARIO--ELI Eco Logic Inc. ("ECO LOGIC" or the "Company") (TSE-ELI) announced today the successful completion of its previously announced rights offering. The rights offering, which was over subscribed, has resulted in the issuance of 3,771,952 common shares for aggregate gross proceeds of approximately $1,320,000. "I am extremely pleased with the response this rights offering received. An analysis of the subscriptions reveals that the financing received very broad support form our existing shareholders" said Chief Executive Officer, Dr. Fred T. Arnold. "I also would like to thank the investment community for supporting us". Each holder of ECO LOGIC common shares of record, at the close of business on April 15, 1999, was entitled to one right for each share then held. Four rights entitled the holders to subscribe for one additional share on payment of $0.35. The net proceeds of the offering are $1,170,000, after deducting expenses of the offering. The net proceeds of this offering will be used to fund the Company's on-going working capital requirements as it continues to respond to hazardous waste destruction requirements in several key markets. The markets include chemical weapons and related material for the US Army, bulk hexachorabenzene in Australia and elsewhere and application of its Gas Phase Chemical Reduction (GPCR) technology for pollution prevention in the chemical manufacturing sectors. Another near term item on the Company's agenda is completion of its next generation design documents to enable its Japanese partners to implement GPCR technology that is inclusive of all improvements achieved over the last sixteen months of operations. ECO LOGIC's business is to solve toxic chemical problems in a safe, permanent, cost effective manner. The Process is an innovative technology that converts on-site, organic, hazardous waste into reusable or disposable products. This non-incineration process has gained high public and regulatory acceptance. ECO LOGIC's world-wide hazardous waste cleanup market includes PCBs, hexachlorobenzene (HCB), pesticides, dioxins, contaminated electrical equipment, contaminated soils, chemical warfare agents, and certain petrochemical wastes." Regards. Joe

To: Wai Lam who wrote (265)	10/10/2000 10:10:41 AM
From: Wai Lam	Read Replies (1) \| Respond to of 340

OCTOBER 10, 2000 - 09:11 EDT Eco Logic Completes Test Stage In US Chemical Weapons Destruction Program: Company Anticipates Moving To Engineering Design Studies Stage In Early 2001 HARWOOD, MARYLAND--ELI Eco Logic Inc. ("Eco Logic" or the "Company") (TSE-ELI) announced today that it's Gas Phase Chemical Reduction process (GPCR) has successfully completed the Test & Demonstration Stage of the US Assembled Chemical Weapons Assessment (ACWA) program. During the next two months the Company will work with its partners to complete the final report, which the Program Manager for ACWA will evaluate and submit the results to the US Congress. "When the analyses of these test results are processed, the Company anticipates being invited to move forward to the Engineering Design Studies stage of the program, which is expected to commence in early 2001," said Dr. Fred Arnold, Eco Logic's Vice Chairman and Chief Executive Officer. The US Army's ACWA Program was congressionally mandated in 1996 to conduct demonstrations of technologies that destroy or decontaminate assembled chemical munitions components such as Mustard and the nerve agents. Under this program, selected destruction technologies were evaluated for their feasibility as alternatives to the Army's current "baseline" incineration process. Internationally accepted and EPA-tested, Eco Logic's GPCR process is a proven, general-purpose technology for the destruction of organic contaminants. The Company initiated discussions in 1995 with the US Army on the application of its patented GPCR technology to the destruction of chemical weapons. Eco Logic received an initial contract from the US Army to demonstrate its technology for chemical weapon destruction under the Alternative Technology program in 1996. It subsequently fulfilled additional test and demonstration work under contracts awarded in 1997, 1998 and 1999. In each instance, GPCR demonstrated the ability to meet or exceed specific Army requirements. In February of this year, the Company was awarded a prime contract in the amount of US$3.3 million to demonstrate the GPCR technology for destroying dunnage, metal parts, and agent and to show that it is part of the total solution. The ACWA program mandate is to identify and demonstrate not less than two alternatives to the baseline incineration process for the demilitarization of assembled chemical munitions. "Eco Logic's technology is proven and well suited to the diverse types of materials and high hazard wastes that define the treatment requirements for chemical weapon destruction," added Arnold. "Based on our performance to date, I am optimistic that the investment that we have made in pursuing this important initiative will continue to yield returns for our shareholders." Eco Logic is an engineering technology company that licenses and supports commercial applications of its patented GPCR process for the destruction of toxic materials in a safe, permanent, cost effective manner. Using this technology, Eco Logic's customers convert on-site, organic hazardous waste and contaminated material into reusable or disposable products. The world-wide market for Eco Logic's technology includes systems for the elimination of Persistent Organic Pollutant (POP) chemicals from industrial waste streams, as well as systems for the destruction of hazardous waste stockpiles including PCBs, hexachlorobenzene (HCB), pesticides, dioxins, contaminated electrical equipment, contaminated soils, chemical warfare agents, and most petrochemical wastes. The information in this news release includes certain forward-looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Although the company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove correct.