Highlights Of Q2 Fiscal 2009:
JER Envirotech has received the 2009 Frost & Sullivan North American Technology Innovation of the Year Award in the field of Biocomposites;
JER Envirotech has issued 41,498,470 common shares, of which 5,206,560 shares will be withheld until final shareholders approval is received at the annual general meeting of the company to be held on April 15, 2009, at a price at $0.10 per share in settlement of about $4.15 Million with key debt holders;
The company has also announced a private placement of up to 13,500,000 units (one common share and one-half warrant) at a price of $0.075 per unit, for the gross proceeds of $1,012,500. Each whole warrant is exercisable at $0.15 per share for a period of 18 months. On March 26, 2009, the first tranche of the private placement was closed with 1,120,000 units sold for gross proceeds of $84,000;
Developed a new line of high impact biocomposite compounds, EcoG Hi Impact compounds, for injection molding applications;
Announced multi-year supply agreement with JJ Barker Company to supply up to 44,000 JER thermoplastic biocomposite sheeting products annually.
