OTTAWA, June 1 /CNW Telbec/ - Thermal Energy International Inc.
(TSX- V:TMG) (www.thermalenergy.com) announced today that it has closed the
exercising of the option by Whitebox Advisors LLC to increase the previously
announced institutional financing for total gross proceeds of $1,312,500.00.
This completes all terms of the original transaction announced April 30, 2007.
About Thermal Energy
Thermal Energy International Inc. is an innovative technology company
providing custom energy and emission reduction, and bioenergy solutions.
Headquartered in Ottawa, Canada, TEI is a designer, design build developer,
fabricator, and supplier of proprietary and patented energy conservation,
renewable energy and environmental technology solutions. Thermal Energy is a
fully accredited professional engineering firm, and offers advanced process
and applications engineering services. The Company is a proud member of the
Chicago Climate Exchange (CCX). FLU-ACE(R), DRY-REX(TM), THERMALONOx(TM) and
THERMALOZOMAX(TM) are trademarks of Thermal Energy International. GEM(R) is a
trademark used under exclusive license from Gardner Energy Management Ltd.
For more information about Thermal Energy International Inc.
(TSX-V: TMG), visit our website at www.thermalenergy.com.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information:
For further information: Stuart McCarthy, Thermal Energy International
Inc., Investor Relations and Communications, (613) 723-6776 x 220,