Environmental Waste International Announces Lawsuit
July 21, 2014 (Source: Marketwired) — Environmental Waste International Inc. (“EWS”) (TSX VENTURE:EWS) (the “Company”), a company specializing in eco-friendly systems with proven patented technology for the breakdown of organic materials, today announced that a lawsuit has been commenced against it by Environmental Waste International limited Partnership (“EWI LP”) for, among other things, injunctive relief to prevent EWS from interfering with certain intellectual property rights which EWI LP purports belong to it. In 2007 EWSsold certain intellectual property rights to EWI LP which were immediately licensed back to EWS.
EWI LP alleges that EWS has taken action or engaged in conduct which interferes with rights that EWI LP purports to have in the intellectual property. It also alleges that EWS interfered with certain economic opportunities of EWI LP related to the exploitation of the intellectual property. In addition, the claim alleges breach of contract, defamation and injurious falsehood. No specific amount was claimed as damages in the statement of claim.
Get our daily investorintel update
EWS denies all the allegations raised by EWI LP and believes that the claims brought by EWI LP are vexatious and without merit. EWS intends to vigorously defend the action.
About Environmental Waste International Inc.
Environmental Waste International, Inc. specializes in eco-friendly systems for the breakdown of organic materials, including tires. EWS has spent over 15 years engineering systems that integrate the EWS patented Reverse Polymerization™ process and proprietary microwave delivery system. EWS’s unique microwave technology safely processes and recycles waste tires, while creating highly valuable commodity outputs for industry, including carbon black, oil and steel. Each unit is designed to be energy efficient and where possible, create an economically positive model for the recovery of various hydrocarbon oil and gases. For more information please visit, www.ewi.ca.
This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with the Company’s business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect the Company’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under “Risks and Uncertainties” in the Company’s most recent Management Discussion & Analysis, which can be found on the Company’s profile at www.sedar.com. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>