Totally Green Closes $5M Private Placement
31 Julho 2013 - 9:00AM
Marketwired
Totally Green Inc. (PINKSHEETS: TLGN) ("TG" or the "Company"), an
innovator in organic food waste processing and diversion has closed
a $5 million private placement of shares.
In exchange for the $5 million investment, the Company will be
issuing 7,062,796 shares of common stock, and 50,000 shares of
Series C Preferred stock. The investment was made by a group of
investors led by York Plains Investment Corp. and will be used to
fund the general, administrative and working capital expenditures
required to support the Company's growth objectives.
Management Commentary
"I am pleased to announce the closing of this investment
transaction," said Shawn Dym, CEO of Totally Green. "This cash
infusion will give us the capital we require to continue to build
the business and grow into other markets."
"We have made meaningful progress putting in place the
infrastructure to support our operating model and will be focused
on aggressively expanding our service offering throughout North
America."
About Totally Green Totally Green, Inc.
develops and markets the company's ORCA Green™ Machine. The ORCA
(Organic Refuse Conversion Alternative) machine allows for rapid
composting of most organic material in institutional and commercial
end-user applications, after which the liquid compost is disposed
of through the ordinary sewer system. The machine creates
meaningful cost savings for customers while diverting food waste
from landfills and reducing methane gas production. For more
information, please visit www.totallygreen.com.
Important Cautions Regarding Forward-Looking
Statements This press release contains "forward-looking
statements." Forward-looking statements are statements concerning
plans, objectives, goals, strategies, expectations, intentions,
projections, developments, future events, or performance,
underlying (expressed or implied) assumptions and other statements
that are other than historical facts. These forward-looking
statements are only predictions. No assurances can be given that
such predictions will prove correct. Actual events or results may
differ materially. Forward-looking statements should be read in
light of the cautionary statements and risks that include, but are
not limited to, the risks associated with a small company, our
comparatively limited financial resources, the uncertainty of
market trends, the competition faced from other current and future
technologies and the uncertainties of competitive pressures we
face. These or other risks could cause actual results to differ
materially from the future results indicated or implied in such
forward-looking statements. We undertake no obligation to update or
revise such statements.
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Shawn Dym Chief Executive Officer Totally Green, Inc. Tel
416-221-9066
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