Earth Alive Completes Private Placement

MONTREAL, QC / ACCESSWIRE / February 26, 2016 / Earth Alive Clean Technologies (CSE: EAC) (“Earth Alive”) announces that it has completed a non-brokered private placement, in the amount of $1,513,400 through the sale of 4,324,000 units, priced at $0.35 each. Each unit consisting in one common share and one half (1/2) of one common share purchase warrant. Each full warrant entitling the holder to purchase one common share of Earth Alive, at the price of $0.45, for a period of 18 months. All securities issued are subject to a four month hold period. In connection with the offering an 8% finder’s fee was paid to qualified persons.

Certain insiders have participated in the private placement for the aggregate amount of $285,250: i) Michel Ringuet, a director, subscribed for units in the amount of $210,000, through a holding company, and accordingly now holds 2,850,000 Shares (3.01% on an undiluted basis); and ii) Benoit Lasalle, a director, subscribed in the amount of $75,250, through a holding company, and accordingly now holds 1,643,571 (1.73% on a undiluted basis). Pursuant to Regulation 61-101 Respecting protection of minority security holders in special transactions (“Rule 61-101”), each of these transactions constitutes a “related party transaction” and as such, minority shareholder approval and a formal valuation can be required. However, the board has determined that such transactions meet the exemptions set out in Rule 61-101 (sections 5.5(a) and 5.7(a)) as the value of the transaction does not exceed 25% of the market capitalization of the Earth Alive. The participation of insiders in the financing and the extent of such participation was not finalized until shortly prior to the completion of the financing. Accordingly, it was not possible to publicly disclose details at least 21 days prior to the completion date.

About Earth Alive Clean Technologies:

Earth Alive aims to be a key player in world markets of environmentally sustainable industrial solutions. The company works with the latest innovations in microbial technology to formulate and patent innovative products that can tackle the most difficult industrial challenges, once only reserved to environmentally harmful chemicals and additives. The company is focused on environmental sustainability in 1) dust control for the mining industry, and 2) the agriculture industry.

For additional company information, please visit: www.earthalivect.com

The CSE has neither approved nor disapproved the contents of this press release. The CSE does not accept responsibility for the adequacy or accuracy of this release.

Forward Looking Information

Except for statements of historical fact, this news release may contain certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as “plan,” “expect,” “project,” “intend,” “believe,” “anticipate,” “estimate” and other similar words, or statements that certain events or conditions “may” occur. Although Earth Alive believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

Earth Alive Clean Technologies Inc.,
1001, Lenoir Street, Suite B-338,
Montreal (Qc) Canada
H4C 2Z6
T.(438) 333-1680

For investor relations, please contact:
Mr. Frédérick Chabot
e) frederick@contactfinancial.com
p) 438-863-7071

For media information and interview requests, please contact:
Mr. David Gilmour
e) dgilmour@earthalivect.com
(p) 514-814-2899

SOURCE: Earth Alive Clean Technologies Inc

ReleaseID: 437251