Ecolomondo Corporation (TSE:ECM) has released an update.
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Ecolomondo Corporation has successfully completed a non-brokered private placement, raising C$506,660 through the sale of over 2.8 million units to aid in the development and expansion of its Thermal Decomposition Process (TDP) technology for tire recycling. The raised funds, along with a recent $3M loan from Export Development Canada, are set to bolster the company’s growth initiatives. The offering attracted interest from various Canadian provinces, with the securities immediately becoming freely tradeable under Canadian law.
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