International Zeolite Enters Into $4 Million Equity Facility with Alumina Partners<\/p>\n\n\n\n
Vancouver, British Columbia, International Zeolite Corp<\/strong>. (the \u201cCompany\u201d) (TSX.V:IZ) (OTCPINK: IZCFF) (FSE: ZEON) announces, that it has entered into an agreement for a financing facility with Alumina Partners (Ontario) Ltd. (\u201cAlumina\u201d). The Investment Agreement will provide the Company with up to C$4.0 million over a 24-month period to finance its working capital needs as well as accelerate its product road map.<\/p>\n\n\n\n “The Investment Agreement with Alumina Partners provides a strong financial backing that will enable International Zeolite to move to the next stage of executing our business plan and strategies,” said Ray Paquette, CEO of the Company.<\/p>\n\n\n\n \u201cWe are pleased to support International Zeolite as they accelerate their robust product development pipeline,\u201d added Adi Nahmani, Alumina\u2019s Managing Member. \u201cWe are confident in management\u2019s depth and breadth of experience and look forward to seeing them bring a diverse portfolio of product offerings to market.\u201d<\/p>\n\n\n\n Under the financing facility with Alumina (the \u201cInvestment Agreement\u201d) International Zeolite, subject to certain customary conditions, may draw down through private placements up to CAD $4,000,000 million in tranches of up to CAD $250,000 each. Each tranche shall be a private placement of units, to be comprised on one common share (\u201cCommon Share\u201d) and one Common Share purchase warrant (\u201cWarrant\u201d). The Warrants may not be exercised prior to the date, which is four months and one day from their date of issuance.<\/p>\n\n\n\n The Investment Agreement provides the Company with a financing facility over a period of 24 months during which the Company can draw down equity private placement tranches of up to CDN$250,000. Each tranche will be composed of units with each unit consisting of one common share of the Company and one common share purchase warrant, at discounts between 15% and 25% of the closing price of the common shares on the day prior to the Company’s drawdown notice to Alumina. The exercise price of the warrants will be at a 25% premium over market at the time of the issuance. Each drawdown from the investment may be subject to approval of the TSX Venture Exchange. All securities issued pursuant to a financing under the Investment Agreement will be subject to a statutory hold period that expires four months and one day from issuance. No finder’s fees will be paid in connection with a financing under the Investment Agreement.<\/p>\n\n\n\n There are no standby charges or other upfront fees associated with the Investment Agreement. Each tranche of Units issued under the Investment Agreement will be subject to the acceptance of the TSX Venture Exchange, and the securities issued will be subject to the customary 4-month hold period.<\/p>\n\n\n\n On Behalf of the Board \u201cRay Paquette\u201d President & CEO 604.684.3301<\/em><\/p>\n\n\n\n For further information, please visit www.internationalzeolite.com<\/a> <\/p>\n\n\n\n For Investor Inquiries:<\/strong>
info@internationalzeolite.com<\/a><\/p>\n\n\n\n