$150,000 Investment in Thermal Energy to Retire Debt and Accelerate Growth.Business Editors OTTAWA--(BUSINESS WIRE)--May 18, 2000 Thermal Energy thermal energy Internal energy of a system in thermodynamic equilibrium (see thermodynamics) by virtue of its temperature. A hot body has more thermal energy than a similar cold body, but a large tub of cold water may have more thermal energy than a cup of boiling International (CDNX CDNX See Canadian Venture Exchange (CDNX). :TMG TMG - TransMoGrifier. An early language for writing recursive descent compilers. It was macroed from the IBM 1604 to the IBM 709 to the IBM 7094 to the GE-635, where it was used by McIlroy and Morris to write the EPL compiler for Multics. .al) has completed a private placement of $150,000 from a director of the Corporation which will be used to retire the majority of the Company's outstanding debt to third parties. In return for providing the funds, Thermal Energy will issue to Director Stephen Atkinson 144,230 shares of common stock in the company at a price of $1.30 per share and may not be traded for 12 months. All amounts are in Canadian dollars. "This is an important vote of confidence from Mr. Atkinson in our future," said Thermal Energy President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Tom Hinke. "This will substantially improve our balance sheet and allow the Company to accelerate the sales and development activities of our FLU-ACE(R) and Low-NOx solutions for energy conservation and environmental compliance." Thermal Energy International Inc. is a leading provider to industry of unique cost-effective energy conservation and environmental compliance solutions headquartered in Ottawa, Canada. More on Thermal Energy can be found at www.thermalenergy.com. FLU-ACE(R) is a registered trademark of Thermal Energy. Common shares of Thermal Energy are traded on the Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) (CDNX) under the symbol TMG. |
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