Essential Innovations wraps $1.75 million private placement of convertible term note

By Devika Patel

Knoxville, Tenn., May 19 - Essential Innovations Technology Corp. said it has sold a fixed-price, interest-bearing convertible term note in a private placement for $1.75 million.

Proceeds will be used to pay down debt, purchase raw materials, structure an interest escrow account for service of the note and to provide overall general working capital.

Based in Bellingham, Wash., Essential Innovations develops water treatment technologies.

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