Whitby, Ontario--(Newsfile Corp. - December 31, 2024) - Environmental Waste International Inc. (TSXV: EWS) (the "Company" or "EWS"), is pleased to announce that it has completed the previously announced plan of arrangement (the "Arrangement") of Company pursuant to which Hydrotrux Group Ltd. ("Hydrotrux") through its wholly-owned subsidiary has acquired 100% of the issued and outstanding common shares of the Company.
The Arrangement was approved on November 20, 2024 at an annual and special meeting by approximately 98.5% of the votes cast by the Company's securityholders. Final approval for the Arrangement was obtained from the Ontario Superior Court of Justice (Commercial List) on November 26, 2024. Under the Arrangement, each EWS common share was paid $0.0035 in cash. As a result, EWS's common shares will be delisted from the TSX Venture Exchange and Hydrotrux will apply to the relevant securities commissions for EWS to cease to be a reporting issuer under Canadian securities laws.
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.
EWS shareholders who have questions or who may need assistance with the completion of letters of transmittal and in collecting the Arrangement consideration to which they are entitled are advised to contact TSX Trust Company, the depository for the Arrangement, at:
North American Toll Free: 1-866-600-5869
Telephone: 416-342-1091 (Outside North America)
Email: TSXTIS@TMX.COM
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:
Kelli Harrington, CEO
(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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235703
SOURCE: Environmental Waste International Inc.
