Global Environment Fund ups stake in Sorbent Technologies.TWINSBURG, Ohio--(BUSINESS WIRE)--Nov. 4, 1994--Sorbent Technologies Corp. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :SORB) today announced that the Global Environment Fund, L.P. has elected e·lect v. e·lect·ed, e·lect·ing, e·lects v.tr. 1. To select by vote for an office or for membership. 2. To pick out; select: elect an art course. to exercise all of its 144,000 warrants for common stock in the growing air pollution control company. This new investment brings the total number of outstanding shares to 2,115,000 and increases GEF's stake in Sorbent sorbent /sor·bent/ (sor´bent) an agent that sorbs; see absorbent and adsorbent. sorbent an agent that sorbs. Technologies to about 25 percent of the outstanding stock. One-hundred-percent of the warrants issued to investors in the company's 1992 financing have now been exercised. The Global Environment Management Corp., the Fund's sponsor, currently has over $130 million in investment funds Noun 1. investment funds - money that is invested with an expectation of profit investment assets - anything of material value or usefulness that is owned by a person or company under management. Sid (1) (Society for Information Display, Santa Ana, CA, www.sid.org) A membership organization founded in 1962 devoted to the information display industry. With chapters around the world, SID hosts conferences in the U.S. and abroad and publishes a monthly magazine. Nelson Jr., a Sorbent Technologies vice president commented, ``We appreciate this vote of confidence by Global and expect to use the new funds to further develop our wastefree air pollution control technologies and introduce them into emerging worldwide markets.'' CONTACT: Sorbent Technologies Corp., Twinsburg Sid Nelson Jr., 216/425-2354 |
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