TORONTO, Aug. 15, 2025 (GLOBE NEWSWIRE) -- Water Ways Technologies Inc. (TSXV: WWT) ("Water Ways" or the "Company"), is pleased to announce that further to its news release dated June 18, 2025, the Company has received final acceptance from the TSX Venture Exchange (the "TSXV") of the consolidation of its outstanding common shares (the "Common Shares") on the basis of one (1) post-consolidation Common Share for every ten (10) pre-consolidation Common Shares (the "Share Consolidation").
Effective at the opening of trading on August 21, 2025 (the "Effective Date"), the Common Shares will commence trading on the TSXV on a consolidated basis. As a result of the Share Consolidation, the 148,785,346 issued and outstanding Common Shares will be reduced to approximately 14,878,537 Common Shares. No fractional Shares will be issued, and any post consolidated fraction of a Common Share will be rounded to the nearest whole number. The exercise or conversion price and the number of Common Shares issuable under any of the Company's outstanding convertible instruments will be proportionately adjusted on the Effective Date in accordance with their terms.
The name of the Company remains the same following the Share Consolidation, and the Company will continue to trade under the trading symbol "WWT" on the TSXV. The new CUSIP and ISIN for the Common Shares will be 941188302 and CA9411883023 respectively.
Shareholders of record as of the Effective Date who hold Common Shares represented by a physical certificate or DRS statement will receive a letter of transmittal from the transfer agent of the Company, Computershare Trust Company, with instructions on how to exchange their existing certificates or DRS statements for certificates or DRS statements representing Shares on a post Consolidation basis.
Beneficial shareholders who hold their Common Shares through intermediaries (securities brokers, dealers, banks, financial institutions, etc.) and who have questions regarding how the Share Consolidation will be processed should contact their intermediaries.
Update on Liquidation of Irri-Al-Tal Ltd.
Further to its press release dated October 1, 2024, and previous disclosures regarding its strategic shift toward the Canadian market to streamline operations and reduce both fixed and variable costs, Water Ways announced that on October 1, 2024, it filed an application (the "Application") to cease operations of its Israeli subsidiary, Irri-Al-Tal Ltd. ("IAT"). The filing of the Application was approved by the directors of Water Ways and is not expected to affect the revenues and operation of Water Ways which primarily come from its Canadian subsidiary, Heartnut Grove WWT Inc. ("HGWWT").
The Application will not affect any assets of Water Ways that are held directly by Water Ways or through HGWWT and is expected to take approximately three years, an increase from the initially anticipated five to twelve month period as a result of delays in collecting amounts owed to IAT by customers located in international jurisdictions.
About Water Ways Technologies Inc.
Water Ways through its subsidiary, is a Canadian provider of Israeli-based agriculture technology, providing water irrigation solutions to agricultural producers in Canada and the USA. Water Ways is capitalizing on the opportunities presented by micro and smart irrigation to the Canadian market. Water Ways' irrigation projects include vineyards, blueberries, fresh produce cooling rooms and more.
For more information, please contact
Ronnie Jaegermann
Director
T: +972-54-4202054
E: Ronnie@exit-team.com
https://www.water-ways-technologies.com/
https://www.hg-wwt.com/
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.
Forward-Looking Statements
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. Forward looking statements in this press release include statements regarding the proposed Share Consolidation and the Application, including their timing, anticipated effect on Water Ways and the completion thereof. 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.
