EWI Investors, LLC Increases Equity Stake in Environmental Waste International Inc. by Converting Note to Common Equity
as
required by National Instrument 62 103 -
The Early Warning System and Related Take Over Bid and Insider Reporting Issues in connection with the filing of an early warning report (the
Early Warning Report ) regarding the acquisition of securities of Environmental Waste International Inc. (TSXV:
EWS) (the
EWI Investors ).
The Company previously entered a promissory note dated April 12, 2017 and amended on September 16, 2019 with EWI (the
Note ), of which Robert Savage, a Director of EWS, is the Managing Member. The principal amount of the Note is $1,000,000
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THUNDER BAY Every year, thousands of automotive tires are shipped from Thunder Bay to southern Ontario for recycling.
Mitch Ouimette, the Sudbury-based CEO of Terreco Inc., hopes to build a plant to process them in Thunder Bay and sell the byproducts.
The tires would be shredded and put into an industrial microwave to break them down into steel, synthetic gas, crude oil and – most importantly – carbon black.
Carbon black comes out in the form of beads that can be used in a variety of products including black plastic. Without adding anything to the process, we can actually return the oil and the carbon black to the tire industry and let them produce new tires. You also find carbon black in ink toners, and so on, Ouimette said.
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Mitch Ouimette says he has the answer to Canadaâs tire and plastic problem.
The Sudbury entrepreneur set out on a mission about two years ago after he read an article on Canadaâs plastic problem and determined to find out how to solve it.
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His solution will be up and running in Sault Ste. Marie in February in the former Ellsin building on Yates Avenue.
Ouimette, who describes himself as a life-long entrepreneur, has recently entered into a joint venture with Environmental Waste International and purchased 70 per cent of Ellsin Environmental Waste to launch a joint venture and operate the west-end plant, which has been dormant for quite some time now.