JER Envirotech International Corp.
JER Envirotech International Corp. Announces Brokered Private Placement Financing
JER Envirotech International Corp. / Offer Release of a Corporate-announcement, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- JER Envirotech International Announces Brokered Private Placement Financing Vancouver, B.C. – April 12, 2007 - JER Envirotech International Corp. (TSX Venture: JER; Frankfurt Stock Exchange: KFTB) is pleased to announce a brokered private placement of up to 8,500,000 units at a price of $0.60 per unit for gross proceeds of up to $5,100,000. MGI Securities Inc. ('MGI' or the 'Agent') has agreed to act as the lead agent to JER Envirotech International Corp. ('JER' or the 'Company'), subject to the conditions below, in respect of an offering, on a 'reasonable commercial efforts' basis, of up to 8,500,000 units ('Units') of the Company at a price of $0.60 per Unit for gross proceeds of up to $5,100,000 (the 'Offering'). Each Unit will be comprised of one common share ('Common Share') of the Company and one half Common Share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.70 per share for the period from the closing date (the 'Closing') of the Offering to the date that is 12 months from the closing date of the Offering. A finder’s fee of 8% will be paid on the gross proceeds of the Offering in cash. In addition, the Agent will be issued warrants ('Agent’s Warrants') exercisable to acquire Common Shares equal to 8% of the number of Units sold pursuant to this Offering. The Agent’s Warrants will be exercisable for a period of one year from the Closing, at an exercise price equal to the Offering. At the Agent’s option and subject to JER’s approval, an additional brokerage firm may be invited to participate for up to 30% of the Offering. Net proceeds from the private placement will be applied towards marketing JER’s JERtech™ wood-thermoplastic composite compounds and panel boards and used for working capital. The completion of the Offering is subject to the reciept of all necessary regulatory, shareholder and TSX Venture Exchange approvals. The Offering is also subject to the appropriate prospectus exemptions under securities laws in Ontario and comparable provisions in other provinces of Canada and shall be subject to applicable regulatory hold periods. About JER Envirotech International Corporation JER is a global manufacturer of wood-plastic (or alternative fibre) composite (WPC) compounds and panel boards. The Company's patented WPC technology utilizes waste or by-product materials, such as saw dust and rice husk, to produce environmentally-friendly alternative products for applications in the automotive manufacturing, construction and transport industries. The Company currently has a range of unique WPC additive formulations which it developed in collaboration with the National Research Council - Industrial Materials Institute of Canada. JER has WPC manufacturing operations in Canada and Malaysia, and is currently in the process of establishing new plants in the Philippines and India. For more information, visit www.jerenvirotech.com or contact us as follows: Mr. Mark Komonoski VP Corporate Communications Toll-Free: 1-877-255-8483 International: +1-403-255-8483 mark@jerenvirotech.com Mr. David Gordon The Howard Group Inc. Toll free: 1-888-221-0915 info@howardgroupinc.com The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. DGAP 12.04.2007 ----------------------------------------------------------------------
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