Earthworks Industries Initiates Private Placement Amid Legal Dispute

The latest update is out from Earthworks Industries ( (TSE:EWK) ).

Earthworks Industries, Inc. has announced a non-brokered private placement to raise $375,000 through the sale of 7,500,000 units, with proceeds allocated for various operational costs, including legal expenses related to a lease dispute involving its subsidiary, Cortina Integrated Waste Management Inc. The company is actively challenging a lease cancellation by the U.S. Department of the Interior’s Interior Board of Indian Appeals in federal court, which has impacted the accounting treatment of its assets, but remains confident in resolving the issue and advancing its Cortina project as a model for future waste management opportunities.

More about Earthworks Industries

Earthworks Industries, Inc. operates in the waste management and recycling industry, focusing on developing projects with high environmental standards. Its primary service includes waste handling and recycling, with a market focus on both tribal and private lands.

YTD Price Performance: 37.50%

Average Trading Volume: 71,563

Technical Sentiment Signal: Buy

Current Market Cap: C$6.78M

See more data about EWK stock on TipRanks’ Stock Analysis page.