Clyvia Inc. Announces Private Placement.POINT ROBERTS Point Roberts, uninc. town (1990 pop. 750), Whatcom co., NW Wash., on the Strait of Georgia near the tip of the Point Roberts peninsula, extending south from British Columbia, Canada, and separated from the Washington mainland by Boundary Bay. , Wash. -- Clyvia Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CLYV) (the "Company") announces that it has negotiated a private placement with two corporate investors of 1,801,802 units at a price of $1.11 per unit for total proceeds of $2,000,000. Each unit will be comprised of one share of the Company's common stock and one share purchase warrant. Each share purchase warrant will entitle the holder to purchase one additional share of the Company's common stock at a price of $1.35 per share for a period of two years from the date of closing. Closing of the private placement is expected to take place on or before December 15, 2005. About Clyvia Clyvia Inc. is currently in the process of a developing a proprietary technology that utilizes a process known as catalytic depolymerization depolymerization /de·po·lym·er·iza·tion/ (de?po-lim?er-i-za´shun) the conversion of a polymer into its component monomers. depolymerization to produce diesel fuel and heating oil from various forms of recyclable waste Recyclable waste is a waste type that has the potential to be recycled. A typical municipal waste stream (bin bag) contains the following components that can be recycled if recovered in a suitably clean state with little contamination: reduced in volume by evaporation; concentrated to a denser form. and precipitated inside a condenser condenser Device for reducing a gas or vapour to a liquid. Condensers are used in power plants to condense exhaust steam from turbines and in refrigeration plants to condense refrigerant vapours, such as ammonia and Freons. as diesel oil or heating oil. CLYVIA INC. WALTER P.W. NOTTER, Chief Executive Officer and President This Press Release may contain, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on management's expectations and beliefs, and involve risks and uncertainties. These statements may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. In particular, in the event the private placement is not completed as contemplated, it may have a significant adverse effect on the liquidity, financial position and assests of the Company, which may affect its ability to complete its business plan. Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release. Clyvia Inc. (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :CLYV) |
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