Cavitation Technologies signs LOI to acquire Eagle Ford Silica Sand for ~$20M

Cavitation Technologies, Inc.

Acquisition valued at ~$20 million; to be funded through equity and debt financing.
Eagle Ford owns 180-acre silica sand plant near San Antonio; current output 2,000 MTPD with available capacity of 8,000 MTPD.
CTi expects transaction to be immediately accretive to earnings and provide positive cash flow.
Closing targeted by Sept 15, 2023; subject to due diligence, financing, and definitive agreement.
Synergy: CTi's chemical-free water treatment will reduce Eagle Ford's freshwater use in sand cleaning for fracking.

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