AJAX, Ontario, July 05, 2018 (GLOBE NEWSWIRE) -- Environmental Waste International Inc. (“EWI”) (TSX VENTURE:EWS) (the "Company") , a company specializing in eco-friendly systems with proven patented technology for the breakdown of organic materials, today announced the results from its Annual and Special Shareholders’ Meeting (AGM) held on June 28, 2018 in Toronto, Ontario.
The following proposals were approved during the meeting.
- The number of Board members was fixed at seven (7);
- Management’s nominees for the Company’s Board of Directors, Sam Geist, Emanuel Gerard, Bob MacBean, Valdis Martinsons, Glenn Myers, Paul Orlin and Robert Savage were elected;
- MNP, LLP, were re-appointed as the Company’s auditors. ;
- The shareholders ratified the existing 10% rolling stock option plan. Under the plan, a maximum of 10% of the issued and outstanding Common Shares at the time of the grant are authorized to be issued; and
- A special resolution was passed authorizing the Board of Directors of the Corporation, that if deemed appropriate, to consolidate the Common Shares of the Corporation on the basis of one (1) new Common Share for up to twenty (20) old Common Shares, and amend the Corporation’s Articles accordingly.
A Board resolution following the AGM issued stock options to Board members (50,000 to each of Sam Geist and Glenn Myers, 75,000 to each of Paul Orlin and Robert Savage, 125,000 to each of Emanuel Gerard and Valdis Martinsons, and 200,000 to Bob MacBean). Steve Kantor, Chief Technical Officer was issued 300,000 options, and 485,000 were issued to other employees and consultants. All stock options were issued with an exercise price of $0.10, vesting over 3 years with an expiry date of July 3, 2023.
About Environmental Waste International Inc. Environmental Waste International, Inc. specializes in eco-friendly systems for the breakdown of organic materials such as tires. EWI has spent over fifteen years engineering systems that integrate the EWI patented Reverse Polymerization™ process and proprietary microwave delivery system. EWI’s unique microwave technology safely processes and recycles waste tires, while creating a highly valuable commodity output for the industry including carbon black, oil and steel. Each unit is designed to be energy efficient and where possible, create an economically positive model for the recovery of various hydrocarbon oil and gasses. For more information please visit, www.ewi.ca.
Forward-Looking Statements This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with the Company's business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect the Company's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks and Uncertainties" in the Company’s most recent Management Discussion & Analysis, which can be found on the Company's profile at www.sedar.com . The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.
Neither 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.
Contact: Environmental Waste International Inc. Bob MacBean, CEO (905) 686-8689 or (800) 399-2366 Bob.macbean@ewmc.com www.ewi.ca
