$213,200 Loaned to Thermal Energy by President & CEO, And Founder to be Reimbursed Through Issuance of Flow Through Shares for Debt.Business & Energy Editors OTTAWA--(BUSINESS WIRE)--Sept. 23, 2002 Thermal Energy International Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension Venture: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. ) (www.tse-cdnx.com) is pleased to announce the approval of a proposed Flow Through Shares For Debt Settlement agreement to reimburse $213,200 of loans provided during the 4th quarter ending August 31st, 2002 by Company President & 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. , and founder Thomas V. Hinke. The $213,200 debt will be retired through the issuance of 1,332,500 common flow through shares at a price of $0.16 per share to Mr. Hinke, with the new shares to be restricted from trading for a minimum of six (6) months. "The Company's board of directors, management, and employees very much appreciate the personal sacrifice and extra support provided by Mr. Hinke in assisting the temporary financing of Company operations," says Corporate Secretary, Gustav Pliva, PhD, PMP. Thermal Energy International Inc. is a leading environmental and energy technology company since 1986. Headquartered in Ottawa, Canada, the Company is an established designer, developer, fabricator, and supplier of Superior proprietary and patented environmental compliance (air) and energy conservation products and technology solutions. The Company is also a fully accredited accredited recognition by an appropriate authority that the performance of a particular institution has satisfied a prestated set of criteria. accredited herds cattle herds which have achieved a low level of reactors to, e.g. professional engineering firm, and offers advanced process and applications engineering services. 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 TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. (formerly CDNX CDNX See Canadian Venture Exchange (CDNX). ) under the symbol TMG. The contents of this release have neither been approved nor disapproved by the TSX Venture Exchange (or TSE-CDNX). |
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