ST. JOHNS, NEWFOUNDLAND -- (Marketwire) -- 01/21/09 -- Environmental Control Corporation ("EVCC") (OTCBB: EVCC) is pleased to announce that it recently completed a Private Placement for gross proceeds of $81,967 USD ($100,000 CDN). The private placement consists of 1,639,346 units at a purchase price of $0.05 per unit. Each unit consists of one common share and two purchase warrants. Each warrant is exercisable into one share of common stock for a period of two years at an exercise price of $0.11 per warrant share.
Proceeds of the private placement will be used to bring the company through to the anticipated completion of the 185cc two-stroke design and pre-testing phases with Richards Engine Development in Maine, in addition to other corporate expenses and business development activities.
As the pre-testing phase nears completion in Maine, EVCC will be submitting Request For Proposals (RFPs) to a select group of qualified manufacturers to build professional prototypes as well as production units for the 185cc two-stroke design. To learn more about this RFP opportunity, contact Steve Norris via e-mail: firstname.lastname@example.org or toll free: 1-888-669-3588.
Throughout 2009, EVCC looks to partner with government organizations in the United States and Canada to develop after-treatment solutions for a complete range of small engine equipment. Such projects would also serve to educate regulatory bodies, engine manufacturers as well as the general public of the technologies available to curb the environmental impact of small engines.
About Environmental Control Corporation
Environmental Control Corporation (OTCBB: EVCC) is a developer of Emission Control Devices for small Spark Ignition (SI) combustion engines. Typical devices within this spectrum include: walk behind rotary mowers, rear engine riding mowers, front engine lawn tractors, riding garden tractors, snow throwers, commercial turf mowers, chainsaws, hand held blowers, backpack blowers, trimmers/brush cutters, mopeds, scooters, snowmobiles, all-terrain vehicles and personal water crafts. Small SI engines produce approximately one tenth of U.S. mobile source hydrocarbon (HC) emissions and are the largest single contributor to non-road HC inventories.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in Section 27A of the Act and Section 21E of the Securities Exchange Act of 1934. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the expectation and/or claim, as applicable, that (1) the proceeds of the private placement will be used to bring the company through to the anticipated completion of the 185cc two-stroke design and pre-testing phases with Richards Engine Development; (2) that the proceeds of the private placement will be used for corporate expenses and business development activities; (3) that EVCC will be submitting Request For Proposals to a select group of qualified manufacturers to build professional prototypes as well as production units for the 185cc two-stroke design; (4) that EVCC will partner with government organizations in the United States and Canada to develop after treatment solutions for a complete range of small engine equipment.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, (1) the inherent uncertainties associated with the development of an early stage company in the emissions control industry and its products and the entry into new markets for such products; (2) the risk that EVCC does not execute its business plan; (3) EVCC not being able to retain key employees; (4) markets for EVCC's products not developing as expected; and (5) EVCC's inability to finance its operations or growth. These forward-looking statements are made as of the date of this news release, and Environmental Control assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although Environmental Control believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's current and periodic reports filed from time to time with the Securities and Exchange Commission.
For Additional Information, Please Contact:
Environmental Control Corporation
Toll Free - 1.877.331.8777