AndhraNews.net
Home » Business News » 2013 » July » July 31, 2013

Totally Green Closes $5M Private Placement


July 31, 2013 - Toronto

Totally Green Inc. (PINKSHEETS: TLGN) ("TG" or the "Company"), an innovator in organic food waste processing and diversion has closed a $5 million private placement of shares.

In exchange for the $5 million investment, the Company will be issuing 7,062,796 shares of common stock, and 50,000 shares of Series C Preferred stock. The investment was made by a group of investors led by York Plains Investment Corp. and will be used to fund the general, administrative and working capital expenditures required to support the Company's growth objectives.

Management Commentary

"I am pleased to announce the closing of this investment transaction," said Shawn Dym, CEO of Totally Green. "This cash infusion will give us the capital we require to continue to build the business and grow into other markets."

"We have made meaningful progress putting in place the infrastructure to support our operating model and will be focused on aggressively expanding our service offering throughout North America."

About Totally Green
Totally Green, Inc. develops and markets the company's ORCA Green™ Machine. The ORCA (Organic Refuse Conversion Alternative) machine allows for rapid composting of most organic material in institutional and commercial end-user applications, after which the liquid compost is disposed of through the ordinary sewer system. The machine creates meaningful cost savings for customers while diverting food waste from landfills and reducing methane gas production. For more information, please visit www.totallygreen.com.

Important Cautions Regarding Forward-Looking Statements
This press release contains "forward-looking statements." Forward-looking statements are statements concerning plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. These forward-looking statements are only predictions. No assurances can be given that such predictions will prove correct. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, our comparatively limited financial resources, the uncertainty of market trends, the competition faced from other current and future technologies and the uncertainties of competitive pressures we face. These or other risks could cause actual results to differ materially from the future results indicated or implied in such forward-looking statements. We undertake no obligation to update or revise such statements.

Add to Digg Bookmark with del.icio.us Add to Newsvine

Shawn Dym
Chief Executive Officer
Totally Green, Inc.
Tel 416-221-9066

MarketWire

Comment on this story

Share