IMMEDIATE RELEASE
Eagle Environmental Technologies Ltd, Reno, NV, (symbol
EGVR, OTC Exchange, www.egvr.com), Brian D. Wilmot, CEO, announced on April 26,
2002 the securing of a new financial institution to fund the construction and
delivery of the ZawMET (ZawCAD) systems to oil refineries. Eagle has obtained a
commitment for full developmental funds to build, test, and deliver each new
unit to the end user, and provide that user with a long term financing package
if they desire. "This new financing arrangement will enable Eagle to begin
the construction and delivery of the ZawCAD and ZawMET units", stated Mr.
Wilmot. This financing package will insure that sales of the new ZawMET process
equipment can begin promptly with the securing of orders from any qualified
party.
Each unit, with related equipment and specialty use
equipment, costs approximately $800,000. On a normal basis, it takes up to 4
weeks to construct one machine. Our associates in Albuquerque, NM will be
constructing each unit under the supervision of our chief engineer, Jim Frye of
EDC Engineering Inc. Sale solicitations have begun in the New Mexico area and
preliminary interest has been excellent.
Eagle Environmental Technologies Ltd. is a systems
integration and environmental product development company concentrating on
recycling or eliminating hazardous waste, water filtration systems and high
performance coating removal systems.
For information, call 800-210-5793, or Fax 209-736-2608.
NOTE: Statements contained in this release that are not
strictly historical are "forward-looking' within the meaning of the safe
harbor clause of the Private Securities Litigation Reform Act of 1995. Editors
and investors are cautioned that such forward-looking statements invoke risk
and uncertainties that may cause the company's actual results to differ
materially from such forward-looking statements. These risks and uncertainties
include, but are not limited to, the company's ability to continue to develop
its market, demand for the company's products and services, general economic
conditions, and other factors that may be more fully described in the company's
literature and any periodic filings with the Securities and Exchange
Commission.
50 W. Liberty, Suite 880, Reno, NV 89501 (website at www.egvr.com)