Enviro Raises €320k Through Shares Issue Under Alumni Capital Financing Agreement

Scandinavian Enviro Systems AB, a waste tire pyrolysis company, has raised €322,000 through a directed issue of 20 million new shares to Alumni Capital Ltd under an existing share-based financing agreement. The shares were issued at SEK0.1785 each, which corresponds to 90% of the lowest daily volume-weighted average share price during the five trading days preceding the drawdown. As part of the transaction, Enviro also issued 1.785 million warrants to Alumni Capital free of charge. The company plans to use the proceeds to secure the financing required to carry out its ongoing corporate reorganisation in a time and cost-effective manner.