International Wastewater Systems closes $1.32M first tranche financing




pcNewsWireInternational Wastewater Systems Inc. (CSE: IWS; FSE: IWI; OTC: INTWF) has closed first tranche of non-brokered private placement of debenture units, issuing 1,320 units at $1,000 per debenture unit for gross proceeds of $1,320,000.

News Release

International Wastewater Closes First Tranche of Debenture Unit Offering

VANCOUVER, B.C., May 30, 2017 – International Wastewater Systems Inc. (“IWS” or the “Company”) (CSE: IWS; FSE: IWI; OTC: INTWF) is pleased to announce, further to its news release dated May 29, 2017, that it has closed the first tranche of the Company’s non-brokered private placement (the “Placement”) of debenture units (the “Debenture Units”).

Pursuant to the first tranche of the Placement, the Company issued 1,320 Debenture Units at a price of $1,000 per Debenture Unit for gross proceeds of $1,320,000. Each Debenture Unit consists of one $1,000 principal amount senior unsecured convertible debenture (the “Debenture”) and 2,500 share purchase warrants (each a “Warrant”), each exercisable into one common share of the Company (the “Shares”) at $0.30 per Share until May 30, 2020. The Debentures bear interest at a rate of 12% per annum from May 30, 2017 and will mature on May 30, 2020 (the “Maturity Date”). The Debentures are convertible into Shares at $0.30 per Share at the option of the holder at any time until the Maturity Date, subject to adjustment in certain events.

The Company paid finder’s fees in the amount of $92,400 to Leede Jones Gable Inc. (the “Finder”) in consideration for introducing certain purchasers to the Company. The Company also issued to the Finder 231,000 non-transferable share purchase warrants (the “Finder’s Warrants”). Each Finder’s Warrant entitles the holder to purchase one Share at a price of $0.40 per Share until May 30, 2019.

All securities issued in connection with the first tranche of the Placement are subject to a statutory hold period expiring on October 1, 2017 in accordance with applicable securities legislation.

About International Wastewater Systems Inc.

International Wastewater Systems Inc. is a world leader in thermal heat recovery. IWS systems recycle thermal energy from wastewater, generating the most energy efficient and economical systems for heating, cooling & hot water for commercial, residential and industrial buildings. IWS is publicly traded in Canada (CSE: IWS), the United States (OTC:INTWF) and Germany (Frankfurt: IWI).

ON BEHALF OF THE BOARD
“Lynn Mueller”
Lynn Mueller
Chairman and Chief Executive Officer

FOR MORE INFORMATION, PLEASE CONTACT:

Jason Shepherd,
Telephone: 604-475-7710
Email: info@iwhes.com

The CSE does not accept responsibility for the adequacy or accuracy of this release.

SOURCE: International Wastewater Systems Inc.