HALTERN, Germany, November 13 /PRNewswire/ -- Reporting from its headquarters in Haltern, Germany, EDI Exploration Drilling International GmbH has announced that its parent company Exploration Drilling International Inc. has agreed a private placement deal with two international investors worth 650,000 Euros. In addition, until November 2009 the two investors will have the option to purchase a further share package of the same size.
"In addition to the recent increase in our equity capital this injection of funds will drive forward our expansion abroad", states Günter Thiemann, Managing Director CFO and CEO of EDI Exploration Drilling International GmbH. "The investors approached us because they are impressed by our future-oriented strategy and the uniqueness of our technology, for which they see promising opportunities on the global water market."
Considerable Cost Advantages in the Exploration of Drinking Water Resources
EDI's objective is to find resources below ground under financially viable and environmentally sustainable conditions, and to ensure their long-term exploitation. For this purpose the company has developed a drilling system with which underground drinking water deposits can be accessed up to 40 per cent more cheaply than has so far been possible using conventional processes. The special feature of EDI's patented drilling process is that a single bore hole enables as many samples as required to be taken at different levels, which also provides decisive savings in time and expense.
The shares of Exploration Drilling Inc. are traded in Frankfurt (WKN: A0LCJB, ISIN: US30216C1009) and over the counter in New York (OTC BB: EXDL.OB).
Press contact: EDI Exploration Drilling International GmbH Günter Thiemann Managing Director Mendelstrasse 11 D-48149 Münster Telephone: +49-(0)251-980-2032 Telefax: +49-(0)251-980-2031 Email: firstname.lastname@example.org Web: http://www.edipower.com
Press contact: EDI Exploration Drilling International GmbH, Günter Thiemann, Managing Director, Mendelstrasse 11, D-48149 Münster, Telephone: +49-(0)251-980-2032, Telefax: +49-(0)251-980-2031, Email: email@example.com