STUART, Fla., Feb. 20, 2013 (GLOBE NEWSWIRE) -- Ecosphere Technologies, Inc. (OTCBB:ESPH), a water engineering, technology licensing and innovative manufacturing company, today announced it has entered into a definitive securities purchase agreement with CIM Investment Management Ltd., a London-based institutional investment firm, to issue $3.4 million of convertible notes and warrants. On February 19, 2013, the Company closed the first tranche of $750,000. Subject to meeting a milestone by March 15, 2013, the Company will close the second tranche of $2,650,000. The proceeds will strengthen the Company's balance sheet and are expected to enable the Company to pursue the development of new markets for its patented Ozonix technology, including specific opportunities in the mining, utilities and municipal wastewater treatment industries.
Ecosphere Announces Private Placement With Institutional Investor
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