Whitby, Ontario--(Newsfile Corp. - November 26, 2024) - Environmental Waste International Inc. (TSXV: EWS) (the "Company" or "EWS"), is pleased to announce that the plan of arrangement (the "Arrangement") of Company involving Hydrotrux Group Ltd. ("Hydrotrux") has been overwhelmingly approved by Company securityholders at an annual and special meeting (the "Meeting") held yesterday. At the Meeting, approximately 98.5% of the votes cast by Company securityholders, voting as a single class, and 98.7% of the votes cast by Company shareholders were voted in favour of the Arrangement.
Under the Arrangement, Hydrotrux will acquire all of the common shares of Company that are issued and outstanding at the effective time of the Arrangement and Company shareholders will be entitled to receive, in respect of each Company common share held at the effective time of the Arrangement, C$0.0035 in cash per share under the proposed Arrangement.
The Company also received a final order of the Ontario Superior Court of Justice (Commercial List) (the "Court") approving the Arrangement at a hearing held today. It is currently expected that the transaction will close on or around November 28, 2024.
Full details of the Arrangement and certain other matters are set out in the management information circular of EWS dated October 18, 2024 (the "Information Circular"). A copy of the Information Circular and other meeting materials can be found on Company's website at www.ewi.ca or under Company's profile on SEDAR+ at www.sedarplus.ca.
About Environmental Waste International Inc.
Environmental Waste International Inc. specializes in eco-friendly systems for the breakdown of organic materials, including tires. The Company has spent over 15 years engineering systems that integrate the EWS patented Reverse Polymerization process and proprietary microwave delivery system. EWS's unique microwave technology safely processes and recycles waste tires, while recovering highly valuable commodities, including carbon black, oil and steel. Each unit is designed to be environmentally safe, energy efficient, and economically profitable for the operator. For more information please visit, www.ewi.ca.
FOR FURTHER INFORMATION PLEASE CONTACT:
(800) 399-2366
kelli.harrington@ewi.ca
www.ewi.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. A more complete discussion of the risks and uncertainties facing the Company appears in the Company's continuous disclosure filings, which are available at www.sedarplus.ca.
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SOURCE: Environmental Waste International Inc.
