MONTREAL, Feb. 15, 2018 (GLOBE NEWSWIRE) — Earth Alive Clean Technologies Inc. (CSE:EAC) (“Earth Alive” or the “Corporation”) is pleased to announce that the settlement agreement with Mr. Gilmour has been finalized, putting an end to the pending court proceedings (see press release of January 23, 2018 at www.sedar.com).
The Corporation also wishes to announce that it has been advised by Financiere GMSL Inc. (“GMSL”), that the initially agreed upon transaction, as announced January 23, 2018 by Earth Alive, whereby Mr. David Gilmour was expected to sell 15,000,000 common shares of Earth Alive (the “Share(s)”) to GMSL, at the purchase price of $0.10 per Share, for a total consideration of $1.5M, has been amended to include other purchasers. As a result, GMSL acquired 4,070,000 and the remaining Shares have been acquired by other purchasers, resulting in none of the purchasers holding more than 10% of the Shares of Earth Alive, including GMSL.
For additional company information, please visit: www.earthalivect.com
The CSE has neither approved nor disapproved the contents of this press release. The CSE does not accept responsibility for the adequacy or accuracy of this release.
Forward Looking Information
Except for statements of historical fact, this news release contains certain forward-looking statements such as the expectation that the sales transaction will proceed as planned, within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” occur. Although Earth Alive believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
Earth Alive Clean Technologies Inc.,
9641 rue Clément
Lasalle (Qc) Canada ,H8R 4B4
For information, please contact:
Mr. Michael Warren