Eco Innovation Announces SEC Declaration of Effectiveness of S-1 Filing for $1.5M Direct Offering
VAN NUYS, Calif., Jan. 19, 2021 (GLOBE NEWSWIRE) -- Eco Innovation Group, Inc. ("ECOX" or the "Company") (OTC:ECOX), an innovative company aggregating investments in new technologies that promote environmental and social well-being, and the advancement of green energy solutions, is pleased to announce that the Securities and Exchange Commission (the “SEC”) has approved the Company’s registration statement on Form S-1 (File No. 333-248871) and declared it effective as of January 15, 2021.
The registration statement relates to the Company’s Primary Direct Offering, which involves the sale of 25,000,000 shares for an aggregate of $1,500,000 in gross proceeds at an offering price of $0.06 per share. Proceeds will be utilized for key investments in Research & Development, Manufacturing, Patent Filings & Patent development, Marketing, Salaries & Consulting fees, and General and Administrative expenses.
Julia Otey-Raudes, President and CEO of Eco Innovation Group, remarked, “We are excited to continue to build on our foundation of intellectual property and our extensive knowledge capital asset base, and we look forward to making fresh investments to scale our business, protect our IP, commercially launch new disruptive products, and provide our shareholders with the value they richly deserve. The capital we will be able to obtain from our income, registration statement and other investments will go a long way in helping us achieve our business plan.”
Please note that this press release does not and shall not constitute an offer to sell, or the solicitation of an offer to buy, the securities discussed herein, nor shall there be any sales of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
For more information, visit www.ecoig.com.
About Eco Innovation Group
Eco Innovation Group was founded by Inventors and Business Professionals to help nurture and catalyze the most innovative and impactful products and services, and to deliver those innovations to the world, improving the quality of life in our communities and the world around us, while delivering value to our shareholders. At ECOX, we are dedicated to developing and commercializing successful products. But we will never lose sight of the fact that we exist, first and foremost, to help people and improve life on the planet we all share. We take our Social Responsibility Contract seriously in all our endeavors. It is not only what we do. It is who we are. For more information, visit www.ecoig.com.
FORWARD-LOOKING STATEMENTS: This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance. Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to economic conditions, changes in the laws or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this report.
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