TORONTO, ON / ACCESS Newswire / May 22, 2026 / Water Ways Technologies Inc. (TSXV:WWT) ("Water Ways" or the "Company") announces that, further to its press release dated May 9, 2026, Heartnut Grove WWT Inc. ("Heartnut"), a wholly-owned subsidiary of the Company, has filed a voluntary assignment in bankruptcy pursuant to the Bankruptcy and Insolvency Act (Canada), and Albert Gelman Inc. has been appointed as trustee (the "Trustee").
As previously announced, as a result of Heartnut's voluntary assignment in bankruptcy, the Company's primary Canadian operating subsidiary, and the ongoing liquidation of its Israeli subsidiary, Irri-Al-Tal Ltd., Water Ways no longer carries on an active business and does not generate revenue.
Following the discontinuation of its operating activities, the Company is undertaking a strategic review to evaluate potential opportunities that could enhance shareholder value. These opportunities may include, among others, a business combination, reverse takeover, merger, asset acquisition, or the identification of a new line of business. There can be no assurance that any transaction or strategic initiative will be identified or completed. The Company will provide updates as developments arise, in accordance with applicable securities laws.
Management Update
The Company announces that Ronnie Jaegermann has resigned from his position with the Company, effective immediately. The Board of Directors would like to thank Ronnie for his service to the Company and wish him well in his future endeavors.
About Water Ways Technologies Inc.
Water Ways Technologies Inc. is a TSXV-listed public company. The Company has ceased its former irrigation technology operations and is no longer carrying on an active business. Water Ways is currently focused on preserving corporate value while evaluating strategic alternatives, which may include the acquisition of, or merger with, a business operating in a new sector.
For more information, please contact
Ronnie Jaegermann
Director
T: +972-54-4202054
E: Ronnie@exit-team.com
Forward-Looking Statements
Certain statements contained in this press release constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information is often identified by words such as "may", "could", "would", "should", "potential", "will", "intend", "seek", "plan", "anticipate", "believe", "estimate" or "expect", or similar expressions.
Forward-looking information in this press release includes, without limitation, statements relating to (i) Heartnut Grove WWT Inc. voluntary assignment in bankruptcy, the timing thereof, and the anticipated cooperation with the bankruptcy trustee, and (ii) the Company's intention to evaluate and pursue strategic opportunities, including potential transactions or new business initiatives. All statements contained herein that are not statements of historical fact are forward-looking information.
Forward-looking information reflects Water Ways' current expectations, assumptions and beliefs with respect to future events, based on information currently available to the Company, and is subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or events to differ materially from those expressed or implied by such forward-looking information. These risks and uncertainties include, without limitation, delays or changes in bankruptcy or liquidation proceedings, actions taken by trustees, courts, creditors or counterparties, the recovery (or non-recovery) of assets, regulatory or legal developments, the Company's ability to identify and complete any strategic transaction, the availability of suitable opportunities, required regulatory or stock exchange approvals, and general market conditions.
Although the Company believes that the assumptions and expectations underlying the forward-looking information are reasonable, no assurance can be given that they will prove to be correct, and readers are cautioned not to place undue reliance on such forward-looking information. Any forward-looking information contained in this press release is expressly qualified in its entirety by this cautionary statement.
Forward-looking information contained herein is made as of the date of this press release, and Water Ways undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. All references to financial amounts are in Canadian dollars unless otherwise indicated.
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.
SOURCE: Water Ways Technologies Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/utilities/water-ways-announces-corporate-updates-1170172
