NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
TORONTO, June 09, 2022 (GLOBE NEWSWIRE) — Water Ways Technologies Inc. (TSXV: WWT) (FRA: WWT) (“WWT” or the “Company“), a global provider of Israeli-based agriculture technology, providing water irrigation solutions to agricultural producers is pleased to update that the due diligence process on the acquisition (see press releases dated January 12, 2022 and April 5, 2022) of Desarrollo De Sistemas Hidraulicos SA (“Hidrotop“) is progressing in a positive manner and the parties are in final stages of negotiating the definitive terms of the purchase and sale (the “SPA“). The parties expect to sign a definitive SPA on or prior to June 30, 2022. The SPA will provide that closing of the acquisition will be subject to certain conditions including the approval of the TSX Venture Exchange.
Hidrotop is a smart irrigation provider that designs, sources and installs smart irrigation and fertigation projects in Chile and Argentina. Hidrotop was founded in 1997, employs over thirty-five employees and has installed more than 30,000 hectares of irrigation and fertigation projects. Hidrotop has been a client of Water Ways for many years purchasing smart irrigation components. Hidrotop has vast experience and knowledge in the South American irrigation market as well as developing special techniques using water technologies in the mining industry.
About Water Ways Technologies Inc.
WWT through its subsidiaries, is a global provider of Israeli-based agriculture technology, providing water irrigation solutions to agricultural producers. WWT competes in the global irrigation water systems market with a focus on developing solutions with commercial applications in the micro and precision irrigation segments of the overall market. At present, WWT’s main revenue streams are derived from the following business units: (i) Projects Business Unit; and (ii) Component and Equipment Sales Unit. WWT is capitalizing on the opportunities presented by micro and smart irrigation, while also making a positive mark on society by making these technologies more widely available, especially in developing markets such as Africa and Latin America and developed markets such as China and Canada. WWT’s irrigation projects include vineyards, Cotton fields, Apple and Orange orchards, Blueberry, Medical Cannabis growers, fresh produce cooling rooms and more, in over fifteen countries.
|For more information, please contact:|
|Dr. Eva Reuter
Investor Relations – Germany
+49 69 1532 5857
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained in this press release constitute “forward-looking information” as such term is defined in applicable Canadian securities legislation. The words “may”, “would”, “could”, “should”, “potential”, “will”, “seek”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions as they relate to Water Ways Technologies Inc. (“Water Ways”). All statements other than statements of historical fact may be forward-looking information. Such statements reflect Water Ways’ current views and intentions with respect to future events, and current information available to Water Ways, and are subject to certain risks, uncertainties and assumptions. Material factors or assumptions were applied in providing forward-looking information. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Should any factor affect Water Ways in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, Water Ways does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and Water Ways undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law. Water Ways’ results and forward-looking information and calculations may be affected by fluctuations in exchange rates and its own share prices. All figures are in Canadian dollars unless otherwise indicated.
The content is by GlobeNewswire. DKODING Media is not responsible for the content provided or any links related to this content. DKODING Media is not responsible for the correctness, topicality or the quality of the content.