E-Waste Systems, Inc. Provides Corporate Update
E-Waste System, Inc. (OTCQB- EWSI, the “Company”), an electronic waste recycling and reverse logistics services firm, is pleased to provide this update to its shareholders and the investment community.
Martin Nielson, CEO of EWSI stated: “We are at a new and important stage in the execution of our strategy as we begin our capital-raising efforts to allow us to turn our existing letters of intent into closed acquisitions and commence building a global, diversified and integrated e-waste company. We would like to update our shareholders and the investment community about our growth plans for the rest of 2012 and 2013.”
EWSI engaged Oracle Capital LLC (“Oracle”), a registered broker-dealer, as Placement Agent to assist in the acquisition strategy and to begin a capital formation program. That engagement was finalized on August 17, 2012. Capital raising efforts will commence in September as management will conduct a bi-coastal road show with the goal of launching the closing its acquisitions during Q4 2012.
New Corporate Branding and Web Presence
EWSI engaged two professional firms to create a new corporate brand to reflect the aspirations of the company, to enhance the capitalization effort and to promote the Company’s position in the marketplace. A new website with an interactive IR section, enhanced commercial pages, and support for state of the art search engine optimization will follow to provide visitors with a well-defined description of the business and our objectives in creating a sustainable, growing firm that seeks to capture an important segment of the e-waste industry. The expanded IR section will contain corporate presentations, management profiles, SEC filings, industry articles, media coverage, news releases, social networking portals and mailing list sign-ups to provide as much information on EWSI as possible so that shareholders and the financial community can become as excited about the future as we are.
New Business Development Initiatives
EWSI agreed to terms to move its Ohio operations to a facility more suited to its growth objectives, including; expansion up to 100,000 sf, up to 14 dock bays and much lower rent. Final documentation and the move of the Company are expected to be complete on or before Sept. 1, 2012.
A new division of EWSI was launched as a key step in executing the fair -trade e-waste program. With this program, EOL electronics sourced in either the US or Mexico will be processed via a highly compliant partner network with access to up to 500,000 sf of space in TX, CA and northern Mexico.
EWSI is also pursuing new teaming agreements with select partners. These agreements stipulate delivery standards, set pricing terms, and allow for co-marketing of capabilities and locations, and will be used to build capabilities and expertise and to expand geographies to generate revenue in advance of, and as a complement to, the acquisitions.
In the Q4 2011 EWSI completed the acquisition of Tech Disposal, Inc., an e-waste and asset recovery specialist in Columbus, OH and is now completely restructuring that operation. EWSI subsequently announced letters of intent to acquire four EOL electronics companies located in the Southwest, Southeast, Central and Western regions of the US and expects to announce another in the Northeast. Closing of these acquisitions are dependent on the Oracle-led capital-raise;
The e-waste industry is the fastest growing waste stream in the world and is fertile ground for an experienced, proven management group to bring initiatives to consolidate and create an efficient, responsible, sustainable and profitable global e-waste corporation.
Mr. Nielson offered these views about the EWSI team, “I believe we have the executives and board members to create, build and grow an industry leader. This whole team recognizes the significant opportunity in front of us and are committed to the challenge to make it happen. The building experience our team possesses, with literally hundreds of multinational acquisitions, coupled with our planned organic growth will be a differentiator. Integrating and synergistically growing our targeted acquisitions and our value-based partnerships is what we are focused on during this growth and expansion period. In the future, it is one of our stated plans to move our stock to a larger exchange to allow for exposure to a broader base of retail and institutional investors as well as possible equity research coverage.”
For the complete list and biographies of EWSI's professional executive team and board members, visit: www.ewastesystems.com/
EWSI Industry Expansion Opportunity
The e-waste and reverse logistics market has become a $100 billion annual business. This does not include much of the resale of usable but unwanted electronics that are flooding the marketplace as new updates in software and hardware are released and provide a further deluge of electronic devices into the world. According to the EPA, in the US alone, it is estimated that 4 million tons of e-waste gets dumped into landfills every year and in other countries, such as China, the numbers are much higher. Furthermore, as environmental legislation and policies begin to enforce more stringent requirements for the disposal of these items, the size of this market is forecasted by industry financial researchers, analysts and practitioners to grow almost exponentially over the next 5+ years. The benefits of e-waste recycling are many and include the conservation of natural resources, the creation of new jobs, the prevention of soil contamination by toxic chemicals and the reduction of energy requirements.
About E-Waste Systems, Inc.
Headquartered in London, where e-waste regulations are the most stringent in the world, EWSI. has been established to create a market- leading, integrated business in the emerging waste electrical and electronics equipment ("WEEE") industry, targeting businesses facing regulatory or other mandates for handling e-waste. EWSI plans to do so by acquiring a select number of high-quality companies with strong management teams that shared a commitment to helping clients achieve cost effective and environmentally responsible compliance with e-waste recycling and disposal requirements. EWSI will leverage and extend its acquisitions' established customer relationships by expanding the services offered to customers, applying best practices in professional management, and by investing in state-of-the-
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E-Waste Systems, Inc.
Safe Harbor Statement: Statements and information in this release constitute "forward-looking statements" as defined in the Federal Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and factors which may cause the actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied in these statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations are contained in the Company's SEC filings. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.