CONCORD, ONTARIO -- (MARKET WIRE) -- 06/27/08 -- Forterra Environmental Corp. (Forterra) (TSX VENTURE: FTE) announced that it has agreed to engage Euroglobal Capital Partners Inc. to act as agent (the "Agent") for a private placement of up to 16,680,000 units at $0.15 per unit, for total proceeds of up to $2,502,000. Each unit will consist of one common share and one-half of one common share purchase warrant. The common share purchase warrants are exercisable for 24 months following closing at an exercise price of $0.25 each.The proceeds of the private placement will be used for working capital purposes. The closing of the private placement is expected to take place on July 8, 2008 and is subject to regulatory approval.
As part of its remuneration, the Agent will receive warrants to purchase units equal to 7% of the units issued under the offering. Those warrants are exercisable at $0.15 each for a period of 24 months following closing.
About Forterra Environmental Corp.
Forterra Environmental Corp. is an emerging leader in the production and marketing of premium organic soil enrichment products. These environmentally friendly products boost fertility while replenishing the soil with organic matter, using worm castings, for sustainable, long-term benefits, including stronger root growth and drought and pest resistance. Forterra is the first company to commercialize the indoor, large-scale production of totally organic soil-enrichment products. Forterra uses red wriggler worms to convert organic waste into vermicompost or worm castings. Worm castings contain micronutrients, which are required for healthy plant development. Worm castings also contain microbes, which increase the rate at which plants take up available macronutrients and micronutrients.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
Forterra Environmental Corp.
Donald Green
Chairman
(905) 634-8647
Email: green@forterra.com
